SA wants to increase and diversify exports to India‚ says Jacob Zuma

South Africa is looking to increase and diversify its exports to India and has identified new areas for market access‚ including defence‚ deep mining and renewable energy‚ President Jacob Zuma said on Friday.

South Africa is looking to increase and diversify its exports to India and has identified new areas for market access‚ including defence‚ deep mining and renewable energy‚ President Jacob Zuma said on Friday.

SA was the second leg of visit that began in Mozambique. Modi will also visit Tanzania and Kenya.

Addressing the media after official talks‚ Zuma said several sectors had been identified for possible co-operation between the two countries.

These included agro-processing‚ mining‚ water and waste management‚ retail‚ financing and infrastructure development.

There were more than 100 Indian companies operating in SA‚ which Zuma said contributed to economic growth and job creation.

As part of youth empowerment in SA‚ the president said the country was keen to explore further opportunities for training from India.

The two countries also agreed to enhance co-operation in international forums‚ specifically within the context of Brics‚ the India Brazil SA (Ibsa) forum‚ the Group of 77 (G-77) plus China‚ the Commonwealth and the Group of 20 (G-20).

Within Brics‚ SA and India co-operated closely and Zuma said the country was “excited” by initiatives proposed by India‚ aimed at strengthening co-operation as well as the development of institutions.

“India‚ through its representative‚ honourable KV Kamath‚ is shaping the New Development Bank to be a formidable player in financing much-needed infrastructure in Africa and the rest of the developing world‚” Zuma said.

“As SA‚ we hope to open the first regional centre of the New Development Bank dedicated to infrastructure projects in Africa‚ in Johannesburg‚ later this year.”

When former finance minister Nhlanhla Nene was axed and replaced with backbencher Desmond van Rooyen at the end of last year‚ Zuma said Nene was due to take up a position with the Brics bank‚ which has since been formally named the New Development Bank.

However‚ since then Nene has taken up private sector positions‚ including joining the board of investment firm Allan Gray.

Modi lauded the strong ties between SA and India‚ saying the relationship had grown stronger in the past two decades.

Trade between the two countries had grown more than 300% in the past 10 years and India held “strong interests” in SA.

“There is potential to expand our business and investment ties further‚ especially in the areas of minerals and mining‚ chemicals and pharmaceuticals.”

He said India would share its experience and capacity in the development of small business in SA.

Modi also thanked SA for supporting India’s bid to be included in the Nuclear Suppliers Group.

“We know that we can count on (the) active support of our friends like SA‚” he said.

This bid has been blocked by China‚ which has strong ties to SA.