Seeking expansion of economic ties with India, South Africa today said it is targeting to increase bilateral trade volume to USD 20 billion by 2018 from the current USD 15 billion.
“The bilateral trade stands at USD 15 billion and we are targeting to reach more than USD 20 billion by 2018,” South Africa’s Minister for International Relations and Cooperation Maite Nkoana-Mashabane said here.
She was addressing the annual Pravasi Bharatiya Divas.
The Minister said she hopes both countries will draw on their long-standing ties as well as increased cooperation in new forums like BRICS for achieving all economic and social goals set by them.
India and South Africa are members of BRICS, a grouping of five major emerging economies.
Nkoana-Mashabane, the guest of honour at the event which is coinciding with Mahatma Gandhi’s return to India in 1915 from South Africa, said her country is looking forward to cooperation with India on information and communications technology, renewable energy and healthcare.
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