The South African Minister of Trade and Industry, Dr Rob Davies will meet his Japanese counterpart Yukio Edano this afternoon in Tokyo to strengthen and deepen economic relations, trade and investment, and technical cooperation between South Africa and Japan. The two Ministers are also scheduled to sign an agreement on a joint study that will point out areas which could anchor mutually beneficial relations.
“The number of Japanese companies that have invested in South Africa has increased to 108 in 2012. In 2011 South Africa managed to attract investments worth $312 million from Toyota and Kansai Paint,” said Davies.
A recent investment from Japan was by the Hong Kong-based Asian Mineral Ltd, which owns 49% of the Kudumane Manganese Mine in the Northern Cape. The mine is expected to employ approximately 300 people. Trade between the two countries is on the rise, with South Africa enjoying a surplus for the past five years. Total trade once reached the high of R106 billion in 2008 prior to the global crisis of 2009, but subsequently declined by 43% to R60 billion.
Minister Davies is in Japan on an official visit to promote trade and investment ties between South Africa and Japan.
Since his arrival in Japan, he has met with various investors including Isuzu and Toyota. Tomorrow he will meet with Nissan, Japan Bank for International Corporation, Mitsubishi UFJ Bank, and the Japan External Trade Organisation.
Enquiries:
Sidwell Medupe
Departmental Spokesperson
Mobile: 079 492 1774
Tel: 012 394 1650
E-mail: MSMedupe@thedti.gov.za
