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SA invites India to invest in infrastructure plan
As part of efforts to deepen relations with India, South Africa has invited the Asian nation to invest in the country's massive infrastructure plan announced in the State of the Nation Address, the Government Communication and Information System (GCIS) reports.
Speaking after a meeting with Indian President Pratibha Devisingh Patil, President Jacob Zuma said "we have once again extended an invitation to Indian business to invest in our infrastructure development programme, in which we are to invest more than R800 billion [in the energy sector, as well as in transport and logistics projects] until 2014."
According to the GCIS, bilateral trade between the two countries stood at R53.7 billion in 2011, with South Africa exporting R24.4 billion worth of goods to India, and importing goods to the value of R29.3 billion. The president deemed the visit as significant due to the fact that relations between the two countries date back many years. South Africa and India also share a history of struggle against colonial oppression and racism. "We also share deep social, economic and cultural ties," he noted, adding that although trade was increasing steadily, "we should all work to reach even higher figures".
Read the full article on http://7thspace.com.
