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Union Commerce and Industry Minister Piyush Goyal held bilateral discussions with South Africa's Minister of Trade, Industry and Competition, Parks Tau to enhance economic ties.
Posting on his social media platform X on Thursday, Goyal noted that the meeting focused on deepening trade relations and identifying collaborative ventures in manufacturing, pharmaceuticals, and critical minerals. The meeting was held on the sidelines of the BRICS Trade Ministers' Meeting, with both sides discussing the signing of the Terms of Reference (ToRs) for the India-Southern African Customs Union (SACU) Preferential Trade Agreement (PTA) and the early conclusion of negotiations. "Met with Mr. Parks Tau, Minister of Trade, Industry and Competition of South Africa, on the sidelines of the #BRICS2026 Trade Ministers' Meeting. We discussed the signing of ToRs for India-SACU PTA and early conclusion of negotiations, strengthening the India-South Africa trade engagement and explored opportunities for cooperation in the critical minerals, pharmaceuticals & manufacturing sectors," Goyal said. The meeting comes as India hosts the BRICS Trade Ministers' Meeting in Jaipur under its BRICS India 2026 Presidency. According to the Department of Commerce, the meeting brings together BRICS nations to strengthen trade and economic cooperation, foster innovation, build resilient value chains and promote sustainable industrial growth. A previous brief by the Ministry of External Affairs mentioned that India and South Africa maintain a strategic partnership spanning trade, investment, defence, science and technology, education and cooperation through multilateral forums such as BRICS and IBSA. The brief also noted that the SACU Secretariat in Namibia had shared the Terms of Reference with the Department of Commerce. Thursday's meeting builds on those ongoing trade engagements, with both sides focusing on advancing the proposed preferential trade agreement (PTA) while identifying new areas of cooperation in critical minerals, pharmaceuticals and manufacturing. The bilateral engagement also reflects India's continued efforts to strengthen trade and economic cooperation with BRICS partners under its presidency, with discussions at the Trade Ministers' Meeting centred on resilient value chains, innovation and sustainable industrial growth. (ANI)
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