India, South Africa Step up India-SACU PTA Negotiations at BRICS Meeting
Commerce and Industry Minister Piyush Goyal held talks with South African Trade Minister Parks Tau to accelerate negotiations on the proposed India-Southern African Customs Union (SACU) Preferential Trade Agreement (PTA). The meeting, held in Jaipur, also focused on expanding cooperation in critical minerals, pharmaceuticals and manufacturing.
In a post on social media platform X, Goyal said the two sides discussed signing the Terms of Reference (ToRs) for the India-SACU PTA and emphasised the need for an early conclusion of negotiations. He added that the discussions were aimed at strengthening trade engagement between India and South Africa while identifying new areas for industrial collaboration.
Trade Pact Back In Focus
Negotiations on the India-SACU PTA were launched in 2008 but remained stalled for years because of differences over market access and sensitivities. The talks have regained momentum as both sides seek to diversify trade partnerships and strengthen cooperation in strategic sectors, particularly critical minerals and pharmaceuticals.
The SACU comprises Botswana, Eswatini, Lesotho, Namibia and South Africa, making it Africa's oldest customs union and an important regional trading bloc. A preferential trade agreement is expected to improve market access and expand bilateral trade between India and the member countries.
BRICS Meeting Drives Economic Agenda
India is hosting the BRICS 2026 Trade Ministers' Meeting in Jaipur as part of its BRICS Presidency, with discussions centred on boosting trade and economic cooperation among member countries. The forum is also focused on promoting innovation, strengthening resilient value chains and advancing sustainable industrial growth.
The discussions between Goyal and Tau form part of India's broader engagement with BRICS partners to deepen commercial ties and expand cooperation in sectors that are expected to play a key role in future economic growth.
Business World