South Africa has identified India as a strategic partner due to the fact that its economy presents enormous trade and investment opportunities for the South African business. This was said by the Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe in New Delhi today.

She was speaking at a business seminar that was attended by businesspeople from South Africa and India. The seminar was part of the fourth Investment and Trade Initiative to India that the Department of Trade and Industry (the dti) is currently undertaking.

"In South Africa we are striving to enhance economic growth that will lead to an increase in the creation of decent, sustainable jobs, advance the fight against poverty and accelerate the economic transformation of South Africa. Over the years, South Africa and India have certainly been laying the best seeds of cooperation. It is now the time for these seeds to receive the necessary care so that they can spring to life in the months and years to come, and bear many high-quality fruits," said Thabethe.

She emphasised that India was one of South Africa's key trading partner in the world and a partner in multilateral organisations such as IBSA (India, Brazil, South Africa (IBSA), G-20, World Trade Organisation (WTO) and BRICS, amongst others, and that India was a key partner to South Africa as it seeks to advance South-South relations.

Thabethe added that the business forum was aimed at advancing South Africa's trade agenda in identified sectors including agro-processing, beneficiated metals, mining technology, and automotive components, as well as attract foreign direct investment and joint venture partnerships in pharmaceuticals, energy, manufacturing and Infrastructure development, amongst others.

"At government level, we shall continue to strengthen economic relations with India aimed at advancing our developmental agenda in the rest of the African continent. Through interventions and bilateral meetings with our Indian counterparts and private sector, key sectors offering profitable economic opportunities in India have been identified. The realisation of these opportunities should and must be anchored on the necessary support to small and medium enterprises as true drivers of the economy," she said.

Thabethe also said South Africa and India had agreed to increase their cooperation in energy, technology, trade and investment.

"This represents a significant step forward in strengthening our efforts to promote long term, sustainable economic growth in both countries. It also provides for diversification beyond our traditional strengths in commodities and non-tradable services. From our side, we have brought here the message that the South African economy offers a multitude of opportunities. This is something to which a number of Indian companies can attest to," added Thabethe.