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SA to host largest ever Indian trade delegationSouth Africa's official body for organised business, Business Unity South Africa (BUSA) is to host the largest Indian trade delegation yet to visit the country. From 2 - 3 August 2007, BUSA will host a meeting known as 'India Calling', which forms part of the Indian Merchants Chamber (IMC) centenary celebration. The partnership also seeks to advance the developmental agenda of the South and promote closer coordination on global issues among the three nations. Trade between Brazil and South Africa rose to more than R10 billion in 2005 from R6.6 billion two years earlier. Trade between India and South Africa totalled more than R14 billion last year, more than double that of 2003. In November last year, the South African Revenue Services (SARS) Commissioner, Pravin Gordhan, hosted his Indian and Brazilian counterparts, KM Chandrasekhar and Jorge Rachid respectively at the Union Buildings. The IBSA partners agreed to streamline issues of tax and customs administration, to enhance cooperation on tax and customs among themselves. The revenue heads of the three nations signed a joint declaration, committing their organisations to closer ties across a wide range of areas on both the revenue and customs fronts. The countries agreed to boost trade and economic development while also seeking to thwart smuggling, drug trafficking, fraud and tax avoidance in the three nations. Article published courtesy of BuaNews |