Trade relations between India and South Africa are strong
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Trade relations between India and South Africa are strong

Professor Badar Alam Iqbal, former Dean and Chairman of the Faculty of Commerce at Aligarh Muslim University (ALAGARH: (UP) in India

Owen Talane

Professor Badar Alam Iqbal, former Dean and Chairman of the Faculty of Commerce at Aligarh Muslim University (ALAGARH: (UP) in India, gave a public lecture at the Vaal University of Technology’s (VUT) Desmond Tutu Hall on 7 March.

After being welcomed by the Executive Dean of the Faculty of Management Sciences, Prof Roy Dhurup, Prof Iqbal gave a very informative presentation outlining the trade and investment relationship between India and South Africa which was initiated in 1994. This came after the end of apartheid in South Africa and the liberalisation in India. Both countries are members of the Commonwealth of Nations and share a similar history, he said.

When South Africa joined BRICS group of countries in 2011, trade and Investment relations between both the countries strengthened. The governments of both nations regularly meet to sign memorandums of understanding (MOUs) on trade and investment relations.

“Basically trade is considered as an engine of growth,” said Prof Iqbal who also illustrated how both South Africa and India benefited from BRICS and how the formation of the New Development Bank (NDB) by the BRICS nations has added to the potential of both countries.

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