India is South Africa's sixth-largest Asian trading partner, with total trade between the two countries reaching US$4.4-billion (about R33 billion) in 2008. This figure is set to rise significantly following a tumultuous 2009.
"Last year, our exhibitors were very happy with the show and the results they achieved. Most of them returned with firm orders. I am confident that we will enjoy an even better result this year," he says. "It's not just the level of sales that have brought exhibitors back - participating companies can look forward to meeting many key industry contacts and potential trading partners."
Doraiswami says that India's interest in Africa stems from similarities between the two nations. "India has the same scenarios in terms of basic agriculture as South Africa and faces the same challenges, hence the extension scheme we have in India will work well here," he says, referring to the Agricultural Extension Service, an institution that bridges the gap between farmers and agricultural research scientists.
"There are many unexplored opportunities in the agri-business sector that, through AB7, we are looking to access," he continues, citing South Africa's fruit processing, cold chain management and warehousing as some of the sectors where India is looking for solutions, and India's biotechnology skills and agricultural machinery as areas of competitive advantage. Part of India's strategy includes establishing relationships with inviting banks and 'knowledge partners' such as consulting firms to further enhance partnership and trade possibilities.
South Africa has already entered into talks regarding partnerships with India, such as the India-SACU (South African Customs Union) trade pact. This will allow goods to move duty-free between India and five SACU countries, namely South Africa, Botswana, Namibia, Lesotho and Swaziland. The agreement is expected to be finalised in 2010. India has signed trade agreements with 29 countries in Africa.
