New Delhi, Aug. 13 -- India and the Southern African Customs Union (SACU) have signed the Terms of Reference (ToR) for negotiations towards a Preferential Trade Agreement (PTA), establishing the framework for formal negotiations to strengthen bilateral trade and economic ties.

The ToR was signed at Vanijya Bhawan, New Delhi, in the presence of Union Commerce and Industry Minister Piyush Goyal, Minister of State for Commerce and Industry Jitin Prasada and senior officials from India and SACU.

Goyal called for a balanced and equitable agreement that would expand market opportunities for both sides. He said India could support the SACU region through affordable medicines, IT talent development and integration into global supply chains.

He...