Launch of the India-South Africa Chamber of Commerce: A New Era of Economic Cooperation

The launch of the India-South Africa Chamber of Commerce (ISACC) at Emperors Palace in Johannesburg on August 24, 2024, represents a significant milestone in the ongoing efforts to strengthen the economic ties between two of the world’s most influential emerging markets. Honourable Minister Parks Tau, South Africa’s Minister of Trade, Industry and Competition, delivered a keynote address highlighting the chamber’s strategic importance in facilitating greater trade, investment, and cooperation between the two nations. Minister Tau emphasized that the establishment of ISACC is not merely a symbolic gesture but a practical and necessary step towards unlocking the full potential of the economic relationship between South Africa and India. He expressed optimism that the chamber would play a critical role in driving mutual growth, fostering innovation, and creating sustainable prosperity for both countries.

H.E. Professor Anil Sooklal, South Africa’s High Commissioner to India, also spoke at the event, reflecting on the deep-rooted historical ties and shared values that have long characterized the relationship between the two countries. He noted that the launch of ISACC is a natural progression of this partnership, providing a structured and formalized platform to enhance economic collaboration. Professor Sooklal expressed his belief that the chamber would be instrumental in addressing existing challenges in the bilateral trade landscape, fostering new opportunities for businesses in both countries, and strengthening the overall economic partnership. He underscored the importance of continued dialogue and cooperation through ISACC to ensure that both nations can navigate the complexities of the global economy together, leveraging their unique strengths and complementarities.

In her heartfelt vote of thanks at the launch of the India-South Africa Chamber of Commerce (ISACC), Ms. Lebogang Zulu, Executive Chairperson of BRICS Women’s Business Alliance South Africa and Interim Secretariat of ISACC, expressed her deep gratitude to all who contributed to making the event a success. She began by thanking the distinguished guests, including Honourable Minister Parks Tau and H.E. Professor Anil Sooklal, for their inspiring words and unwavering support for this important initiative. Ms. Zulu acknowledged the invaluable role that both the South African and Indian governments played in fostering this partnership, noting that their shared vision and commitment have been instrumental in bringing ISACC to life.

Ms. Zulu extended her appreciation to the members of the business community from both countries, whose enthusiasm and dedication have laid a strong foundation for the chamber’s future endeavors. She highlighted the critical role that entrepreneurs, especially women and SMEs, will play in driving the chamber’s success, reaffirming ISACC’s commitment to creating opportunities and removing barriers for these key contributors to economic growth. Ms. Zulu expressed her confidence that through continued collaboration and dialogue, ISACC will be able to facilitate meaningful and impactful engagements that will strengthen the economic ties between India and South Africa.