South Africa, India to forge new trade deal worth $15 billion

South Africa is looking to strengthen trade relations and investment opportunities from India, and a new target is anticipated to be set for trade worth $15 billion by 2014. South Africa’s trade and industry deputy minister, Elizabeth Thabethe, has been touring India since August 19 and is scheduled to visit four cities including Kerala, Chennai, Mumbai and New Delhi. Her trip ends on August 31. According to reports, Thabethe is specifically taking a look at progress that has been made by the Indian government on development of small medium and micro enterprises, or SMME. She’s also said to be observing the connectivity of rural economies to the mainstream economy. During her time there, Indian institutions will also be presenting solutions for South African SMMEs on some of their challenges including technology and market development. "We want to encourage Indian investments in all sectors in South Africa as part of our efforts at job creation. President Jacob Zuma has set a target of five million jobs to be created by 2020," said Thabethe in an interview with Indo-Asian News Service. India is believed to be one of South Africa's top ten export countries and it is among the top five import countries for South Africa. Indian brands that currently have a presence in the South African market include Mahindra, Tata, a number of pharmaceutical companies and some investments in mining operations.