Observing that the strategic partnership between India and South Africa has gradually taken shape, the two countries on Friday agreed to give a boost to economic cooperation, particularly in mining, information and communications technology and pharmaceuticals.
A joint statement issued after a meeting of India-South Africa joint ministerial commission in Pretoria, said the two sides are negotiating a bilateral Investment Protection Agreement and a Preferential Trade Agreement.
The meeting, attended by External Affairs Minister Yashwant Sinha and his South African counterpart Nkosazana Dlamini-Zuma, felt that the strategic partnership, which the two countries agreed to establish during President Thabo Mbeki visit to India in 1996 has gradually taken shape, with many major bilateral agreements already signed and a few others being negotiated.
It was announced that President Mbeki will pay a state visit to India in October.
The two sides emphasised the need for increasing mutual investments and agreed that there was still substantial potential for capitalising on individual strengths such as South Africa's mining prowess and India's strengths in the field of information and communications technology and pharmaceuticals.
The ministers directed that all sub-committees of the Joint Ministerial Commission and other working groups should make concerted efforts to pursue vigorously all pending agreements and projects with a view to having them concluded during Mbeki's forthcoming visit.
Sinha expressed his appreciation for the initiatives being taken by South Africa to promote development, peace and security in the African region.
