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Tue, 10 Oct 2017
South Africa to participate in World Trade Organisation ministerial meeting...

A South African delegation has arrived in Marrakesh, Morocco, to attend the World Trade Organisation (WTO) Informal Ministerial Gathering.

The delegation is led by Trade and Industry Minister Rob Davies and Deputy Minister Bulelani Magwanishe.

They will attended the meeting which is part of a series of preparatory meetings leading to the 11th WTO Ministerial Conference (MC11) to be held in Buenos Aires, Argentina, in December 2017.

The meeting will provide a platform for exchange of views and guidance on possible outcomes at MC11.

“The Ministers reiterated their commitment to the development mandate of the Doha Development Agenda (DDA) and agreed that Africa should seek outcomes that provide policy space for Africa to pursue integration and industrialisation to drive the process of structural transformation across the African continent,” the dti said on Saturday.

The Ministers also agreed on the need to ensure that the outcomes achieved at the multilateral level do not undermine the continent’s development integration agenda that encompasses market integration, industrial development and infrastructure development.

On the side-lines of the WTO Informal Ministerial Gathering, Minister Davies and Deputy Minister Magwanishe will also have several bilateral meetings and a meeting of the African Ministers of Trade.

Source: http://www.sanews.gov.za/south-africa/sa-participate-wto-ministerial-meeting

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Tue, 03 Oct 2017
South African companies explore opportunities in Tunisia & Algeria...

A delegation of South African companies is currently on a trade and investment mission in Tunisia and Algeria, where they are exploring export markets.

The trade and investment mission, which is led by the Department of Trade and Industry (dti), will serve to promote South African products and service offerings, while creating partnerships between the business communities of the respective countries.

The trade mission, which got underway on Sunday, will conclude on Thursday.

Trade and Industry Minister Dr Rob Davies said the mission is aimed at advancing Tunisia, Algeria and South Africa’s trade and investment relations.

Both Tunisia and Algeria feature as strategic partners for South Africa in the North Africa region and are pivotal partners towards advancing integration on the continent.

Minister Davies said the mission will provide South African companies with a platform to introduce their products into the Tunisian and Algerian market.

“This mission will serve as a stepping stone in cementing trade relations and encouraging investment with the two nations. Also, it is an ideal platform for South African companies who would like to export value added products and services and those looking for investment opportunities in the region,” said Minister Davies on Sunday.

Algeria has been South Africa’s largest export trading partner in the North Africa region, having accounted for 43% of South Africa’s total trade with North Africa in the period 2011 to 2015.

The value of trade between the two countries reached over R13.4 billion, from 2011 to 2015. South African exports were estimated at R13 billion while imports from Algeria were R463 million.

The trade mission comprises a trade and investment seminar, business-to-business meetings and site visits in both countries.

Sectors targeted for the mission include energy, construction, agriculture and agro-processing, information and communication technology, infrastructure development, services, pharmaceuticals, clothing and textiles, manufacturing and mining.

 

Source: http://www.sanews.gov.za/south-africa/sa-companies-explore-opportunities-tunisia-algeria

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Fri, 22 Sep 2017
South Africa and the UK recommit to enhance trade post Brexit...

South Africa and the United Kingdom have recommitted to enhance trade ahead of the UK leaving the European Union.

Trade and Industry Minister Rob Davies and UK Secretary of State for International Trade, Dr Liam Fox, held a bilateral meeting on Tuesday in Tshwane.

“Both Ministers recommitted themselves to a seamless post Brexit in terms of trade and technical work will be intensified to ensure that the interim arrangements will be finalised before the United Kingdom leaves the European Union in 2019,” said the Department of Trade and Industry (dti).

The meeting also committed to further developing mutually beneficial trade and investment relations.

The United Kingdom remains a key investment partner for South Africa in terms of the total inward Foreign Direct Investment (FDI) flows received from the rest of the world.  The UK has invested in 333 FDI projects in South Africa, with direct capital investment estimated at about R159.01 billion over the period of 2003 to May 2017.

“The UK has been a significant trading partner of SA over the past years and ranks as South Africa’s seventh largest export partner in the world and second largest export partner in the European Union region. There is a need to discuss an arrangement on technical issues in order to ensure smooth trade post Brexit,” said Minister Davies.

The two leaders’ meeting was a continuation of the ongoing high-level engagement between South Africa and the United Kingdom.

The Ministers’ meeting follows the Southern African Customs Union’s Trade Ministers’ meeting with the United Kingdom in July, where parties agreed that their trade relations should not be disrupted due to the Brexit process.

UK Export Finance (UKEF) — the UK’s export credit agency — has made additional funds available for UK companies exporting to South Africa and for South African buyers of UK goods and services to bolster trade between the two countries after Brexit.

Source: http://www.sanews.gov.za/south-africa/sa-uk-recommit-enhance-trade-post-brexit

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