New Delhi, Jan 12 (IANS) India is keen to conclude a preferential trade agreement with the Southern African Customs Union (SACU) as this will significantly boost bilateral trade, Commerce and Industry Minister Anand Sharma said Tuesday.

"This should provide an enormous boost to ongoing levels of bilateral trade, specially in products such as pharmaceuticals, machineries, automobiles, where India enjoys a competitive advantage," a statement released here quoted Sharma as saying at the India Business Forum in Johannesburg.

SACU is a grouping of five southern African countries - South Africa, Botswana, Swaziland, Lesotho and Namibia.

Sharma said there was a huge untapped potential to boost bilateral trade and investment between India and South Africa.

Interacting with the captains of industry from both sides, Sharma said for Indian businessmen, Africa is an untested but potential huge trade and investment market for the future.

"India's involvement with Africa is and has been focused on helping African countries develop their own potential for human resource development. This has been an evolving process and India has, over the years, extended cooperation not just in IT (Information Technology), but also in agriculture, small and medium enterprises, transportation, infrastructure, health and education"" Sharma said.

Meanwhile, state-owned trade giant MMTC has opened its first office in Johannesburg.