South African trade initiative begins in Hyd

South African trade initiative begins in Hyd
Highlights

South Africa’s Department of Trade and Investment (DTI) on Monday organised seventh Investment and Trade Initiative (ITI) in the city as a part of its attempt to leverage the African country as a preferred choice for bilateral trade and investments with India.

Hyderabad: South Africa’s Department of Trade and Investment (DTI) on Monday organised seventh Investment and Trade Initiative (ITI) in the city as a part of its attempt to leverage the African country as a preferred choice for bilateral trade and investments with India.

A delegation of 23 South African small and medium companies as well as provincial investment promotion agencies joined the initiative.

“We are confident that both the nations together would witness a diversification in their respective economic activities, assisting industrialization and value addition, which would open up possibilities of mutual business partnership” said France K Morule, High Commissioner of South Africa to India.

The ITI would enable India South Africa trade relations to go beyond commodity trading and encompass a stronger mutual partnership across sectors, he added. South Africa has evolved and extended its capacity in various sectors across the market which comes from its strong ties and proficiency in building trade partnerships, investment opportunities and brand promotions.

This ITI will target South African companies seeking to attract foreign direct investment and also project owners and managers seeking joint venture partnerships as well as exports in various sectors.

“South Africa is offering opportunities for investment in diverse sectors ranging from mining, power, infrastructure, architecture, renewable energy, agro-processing, IT and BPO, autos and components, pharmaceuticals, etc,” a DTI release said.

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