India, South Africa target $10b trade by 2012

With bilateral trade between India and South Africa pegged at US$7 billion at present, the two countries look to achieve the target of $10 billion by 2012, the Hindu Business Line reported.

The much-anticipated India-SACU (Southern African Customs Union) Preferential Trade Agreement will eventually lead to a Free Trade Agreement between India, SACU and Mercosur (South American Trading Bloc).

An Agreement for Reciprocal Promotion and Protection of Investments is also waiting to be concluded. Early conclusion of these agreements will provide a real impetus to bilateral trade and investments.
(Source:www.cargonewsasia.com)