The Asia Africa association is centuries old with the earliest traces of human life and civilizations found here. Both have had some of the poorest countries that are now on the road to development. Asia, in fact, has two nations that have been least affected by the global economic slowdown, with minimal declines in overall growth rates and other statistics. China and India happen to be these two nations, and the world looks at them as Asian tigers. He skyrocketing trading activities between these two continents reveals a global trend that points to a growing south-south cooperation involving developing countries. China has developed economic relations with African countries over the last decade and today the trade between China and African countries stands at $ 107 billion. India has eyed African countries with the intention of exploring the market potential of Indian goods, and also pursue investments there. Statistical data collected by researchers reveals that exports from Africa to Asia have tripled in the last five years. Africa has a labor-intensive capacity to produce non-traditional goods that are showing increasing demand levels in Asia along with the enormous raw material supplies so much in demand in Asia.

A full day summit to explore possibilities of business relations between India and South Africa is being held in Durban later this month. The Summit will provide a platform for information sharing for further investments and potential business avenues in each. Bilateral trade relations will be the main area of focus at the summit. The summit will be attended by at least 150 CEOs and corporate heads, from large business houses in both countries.

India based Tata Communications is looking for avenues for expansion in the emerging markets of Africa. The company has bid for a telecommunications license in South Africa, jointly with Tata Africa Holdings. It is planning to connect India and Africa with undersea cables. Tata Communications has also bought a 30% stake in Neotel Pty Ltd, which was held previously by Eskom and Transnet. The Tata Company along with a sister concern Tata Africa Holdings, has become the majority stakeholder in Neotel. The Tatas plan to introduce world-class telecom services in South Africa. Neotel has the distinction of being South Africa’s first converged operator of communications networks, committed to redefining the telecom markets of Africa and Asia. It will deliver wire line as well as wireless data telecom services in the country. Its areas of operations extend to wholesalers, enterprises and consumers.

Source : China Africa