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| India, South Africa Look At CEPA Talks |
by Lorys Charalambous, Tax-News.com, Cyprus
Friday, September 03, 2010
The Indian Commerce and Industry Minister, Anand Sharma, has disclosed that
India and South Africa are to look at the possibility of establishing a bilateral
comprehensive economic partnership agreement (CEPA) and an investment protection
and promotion agreement (IPPA).
While bilateral trade between the two countries is currently hovering at around
USD7.5bn, both countries have targeted a total of USD10bn in 2011-12. It is
hoped that the removal of trade barriers from the CEPA could help that target
to be exceeded.
With regard to the IPPA, it was also reported that Indian investments in South
Africa have already reached USD6.5bn, and South African investments in India
are around USD3bn.
Furthermore, both sides are also pushing for an early conclusion to India’s
negotiations on a preferential trade agreement (PTA) with the Southern African
Customs Union which, in addition to South Africa, encompasses Botswana, Lesotho,
Namibia, and Swaziland. There have already been four rounds of talks on the
PTA, and a further round is planned for this month to discuss the items selected
for tariff reductions.
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