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India, S Africa to sign free trade agreement soon

India and South Africa would shortly sign a Free Trade Agreement to boost bilateral ties, South African High Commissioner to India M E Nkoana Mashabane said on Saturday.

The agreement will open the European and African markets for the Indian industry which will benefit immensely as South Africa already exports about 11,000 different products to these countries, she said at a PHDCCI meeting in Ludhiana.

The chamber also signed a memorandum of understanding with the National African Federated Chamber of Commerce, Limpopo province, to promote trade relations in agro and food processing, textiles, gems and jewellery, metal scrap and pharmaceuticals, according to a PHDCCI release.

Premier of the South African province of Limpopo Ngoako Ramatlhodi said members of South African delegation who have already signed various contracts with Punjab industrialists during the tour have also identified other units in the state to promote trade relations between the two countries.

Punjab Minister for cultural affairs and tourism Ashwini Sekhri said both Punjab and Limpopo were highly developed states with high skill entrepreneurship.

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