India and the Southern African Customs Union (SACU) have signed the Terms of Reference (ToR) for negotiations towards a Preferential Trade Agreement (PTA), marking a significant step in strengthening trade and economic relations between India and the SACU member states.
According to the press release, Speaking at the ceremony, Piyush Goyal called for a balanced, fair and equitable trade agreement that benefits both India and SACU countries. He highlighted opportunities in pharmaceuticals, IT, engineering, automobiles, textiles, agriculture and agri-processing.
Goyal said India can support the SACU region through affordable medicines, IT skills and talent development, while also helping integrate SACU economies into global supply chains.
He emphasised that India’s relationship with Southern Africa extends beyond commerce, recalling the historical ties between India and the region and saying, “India’s relationship with Southern Africa did not begin with commerce. It began with conscience.”
The Minister also stressed the need for an early conclusion of the PTA, noting that the signing of the ToR is only the beginning of the negotiation process.
The signing ceremony was attended by Minister of State for Commerce and Industry Shri Jitin Prasada, senior officials from the Government of India and the SACU delegation.
Executive Director, Ministry of International Relations and Trade, Government of the Republic of Namibia, Ms. Ndiitah Nghipondoka-Robiati welcomed the signing of the ToR as an important milestone in formalising SACU–India engagement and providing structure, transparency and predictability to the forthcoming negotiations. Highlighting India’s importance as a strategic partner and a pillar of South–South cooperation, she noted the longstanding relationship between India and Africa through trade, investment, capacity building and development cooperation.
Secretary, Department of Commerce, Ministry of Commerce and Industry, Shri Rajesh Agrawal, addressing the gathering, said that this is India’s first ToR signing with the African region and noted SACU’s significance as the oldest customs union in the world. He stated that the PTA is envisaged to cover eight important chapters, including trade in goods and market access for goods; rules of origin and origin procedures; customs procedures and trade facilitation; trade remedies, including a bilateral safeguard mechanism; sanitary and phytosanitary measures; technical barriers to trade; dispute settlement; and legal and horizontal provisions.
The signing of the ToR reflects the shared commitment of India and SACU to advance mutually beneficial trade relations and lays the foundation for negotiations towards a balanced, mutually beneficial and development-oriented PTA.
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According to the press release, Speaking at the ceremony, Piyush Goyal called for a balanced, fair and equitable trade agreement that benefits both India and SACU countries. He highlighted opportunities in pharmaceuticals, IT, engineering, automobiles, textiles, agriculture and agri-processing.
Goyal said India can support the SACU region through affordable medicines, IT skills and talent development, while also helping integrate SACU economies into global supply chains.
He emphasised that India’s relationship with Southern Africa extends beyond commerce, recalling the historical ties between India and the region and saying, “India’s relationship with Southern Africa did not begin with commerce. It began with conscience.”
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The Minister also stressed the need for an early conclusion of the PTA, noting that the signing of the ToR is only the beginning of the negotiation process.
The signing ceremony was attended by Minister of State for Commerce and Industry Shri Jitin Prasada, senior officials from the Government of India and the SACU delegation.
Executive Director, Ministry of International Relations and Trade, Government of the Republic of Namibia, Ms. Ndiitah Nghipondoka-Robiati welcomed the signing of the ToR as an important milestone in formalising SACU–India engagement and providing structure, transparency and predictability to the forthcoming negotiations. Highlighting India’s importance as a strategic partner and a pillar of South–South cooperation, she noted the longstanding relationship between India and Africa through trade, investment, capacity building and development cooperation.
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Secretary, Department of Commerce, Ministry of Commerce and Industry, Shri Rajesh Agrawal, addressing the gathering, said that this is India’s first ToR signing with the African region and noted SACU’s significance as the oldest customs union in the world. He stated that the PTA is envisaged to cover eight important chapters, including trade in goods and market access for goods; rules of origin and origin procedures; customs procedures and trade facilitation; trade remedies, including a bilateral safeguard mechanism; sanitary and phytosanitary measures; technical barriers to trade; dispute settlement; and legal and horizontal provisions.
The signing of the ToR reflects the shared commitment of India and SACU to advance mutually beneficial trade relations and lays the foundation for negotiations towards a balanced, mutually beneficial and development-oriented PTA.
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