The india South Africa Business Forum USABF) is being launched in Durban on 29 March 2012 with its objectives to stimulate the business between South Africa and India
The india South Africa Business Forum USABF) is being launched in Durban on 29 March 2012 with its objectives to stimulate the business between South Africa and India. This Forum will provide platform to all businessmen and women currently doing business between India and
South Africa to network.
The Forum will facilitate and assist the visiting indian business delegations by providing a network support for businessmen visiting South Africa and vice versa. The Forum will also host business ieaders of India and South Africa to share their experience and vision with the
members of the Forum.
The Forum will organize breakfast meetings, workshops and Seminars on a reguiar basis with the aim to stimulate trade between the two Nations.
ISABF is apolitìcal, non-religious and completely non-racieì Forum. However, the main criterion for membership, at this juncture, is authentic cross country trade and investment between the two countries. Companies and indívìduais who wish to join may visit website www.isaj.ŕcg_rn
and emai! their queries to ísabf@cgidbn.com _ The logo of Forum has coíors of the fiag of South Africa and India forming a blossoming flower.
The Founding members ofthe Forum represent TNI Import Export, South African Airways, Jet Airways, Durban University of Technology, Apolio Tyres SA Pty Ltd, Pierian.sa, State Bank of India, Positive Packaging Industries Pty. Ltd, GRAVICS designs, Bank of Baroda and Consulate
General of india, Durban.
The government to government relations between the two nations had grown to grab headlines across the globe in pushing for an equítabie global order. This was iargeiy showcased in bilateral and multíiaterai formations which showed the two nations marching together. This march peaked with the membership of the two nations in the BRICS (Brazil, Russia India, China, and South Africa) bloc in 2011. South Africa and India stand together in several platforms to push for transformation of the giobal order into a fair and equitable arrangement.
Trade between the two countries had grown phenomenally over the past few years to reach $12bn (R9lbn) in 2011 from less than $2bn in the early 2000’s. This trade figure was expected to surpass the Slflbn mark in 2014. There was huge potential for growth and initiatives to ensure that this growth had been put in place.
For its part South Africa boasts the position of being the largest economy in the African contínent and commands infrastructure that is of worìd-class standards in parts. This has positioned South Africa to be viewed as a gateway to bubbling commercial opportunities
throughout the sub-Saharan region.
India has grown its economy phenomenally to occupy the position of the fourth largest economy in the world. With average growth of about 7% since 1997 and the vast population of about 1.2 billion people makes it one ofthe most attractive markets in the world.
The businessmen and businesswomen of both countries wish to work together to realize the enormous potential that exists for partnerships beyond bilateral by exploring cooperation in plurilateral frameworks such as IBSA (india, Brazil, South Africa or BRICS (Brazil, Russia, India, China and South Africa ). However, this needs an active reoríentatìon of business models and strategies to exploit new opportunities that are opening up.