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The dynamic emerging trio of BRICS - India, South Africa and Brazil cooperates on trade agreements
Staff Reporter
Feb. 13, 2005
According to a top South African trade official, India, South Africa and Brazil were examining the kind of business cooperation possible in terms of "what we can buy and sell among each other".
The three countries have banded together at World Trade Organization to represent the interests of developing countries from three different continents.
According to Iqbal Sharma, chief director of international trade at South Africa's department of trade and industry, the Southern African Customs Union trade bloc, comprising Botswana, Lesotho, Swaziland, Namibia and South Africa are keen to seal a preferential trade agreement with India in hopes of spurring trade and turning historical ties into economic opportunities.
The business cooperation will focus on civil engineering, tourism, agro-processing, automotive components, chemicals, marine and railways.
Industry events such as trade shows will be kicked off in India to improve the understanding of available business opportunities.
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