He was addressing the third meeting of India-Africa Trade Ministers in Johannesburg, which he co-chaired with South Africa's Minister of Trade and Industry Rob Davies, a commerce ministry release here said.
The meeting was attended by Chairperson of African Union Commission Nkosazana Dlamini Zuma and 11 trade ministers from Africa, representatives of New Partnership for Africa's Development (NEPAD), and regional economic communities like Common Market for Eastern and Southern Africa (COMESA), Economic Community Of West African States (ECOWAS) and Southern African Development Community (SADC), the statement added.
Sharma said that the economic engagement has been a buoyant one as investments from India to Africa has crossed USD 50 billion in the last decade, while current trade has crossed USD 70 billion.
Earlier, Sharma in a bilateral meeting with Davies urged for an early conclusion of the India- Southern African Customs Union (SACU) Preferential Trade Agreement negotiations, the statement said.
India's trade with South Africa has touched USD 14 billion and investment flows from India have crossed USD 7 billion.
The statement also said that the second meeting of the India-Africa Business Council was held in Johannesburg Tuesday, where business leaders collectively identified priority sectors of private investment and presented a report to the trade ministers.
--IANS (Posted on 01-10-2013)