The Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe is in Slovakia to co-chair the fourth session of the Slovakia–South Africa Joint Council for Economic Cooperation which is being held in Bratislava.
The purpose of the Council is to promote and strengthen trade, investment and economic cooperation between the two countries. Thabethe is accompanied by officials from the Department of Trade and Industry (the dti), as well as a business delegation. The primary objective of the visit is to strengthen commercial and economic relations between the two countries.
Thabethe says that South Africa considers the work of the Joint Council to be vital.
“These kinds of meetings offer our two governments an opportunity to contemplate our economic and trade relations and consider ways through which these can be enriched and deepened. Thus we believe the work of this Joint Council is important in formulating the direction that our economic and trade relations should take. At the same time, we would hope that such initiatives help to build a strong basis for facilitating bilateral trade and investment between our countries,” she says.
Thabethe adds that trade between South Africa and Slovakia has been consistently increasing over the years. But it poses challenge for South Africa as it is in favour of Slovakia.
“Firstly, the trade balance has been heavily skewed in favour of Slovakia. This poses a challenge for South Africa to exert more efforts in exporting its products to the Slovak market. Secondly, we find the pattern of trade to be attractive in the sense that relative to our exports with other trading partners, exports to Slovakia tend to have a higher proportion of value added item,” she says.
At the third Session of the Joint Council for Economic Cooperation, the following sectors were identified wherein bilateral trade cooperation should be developed: Medical – pharmaceutical, Infrastructure, Energy, information and communication technology, Tourism, Glass Industry, Fresh and process food – wines.
Meanwhile, Deputy Minister Thabethe also addressed the Slovak–SA Business Forum that was held on the side-lines of the Joint Council for Economic Cooperation. She told business people that South Africa has identified infrastructure development as key to our sustainable economic development and industrialisation. According to her the infrastructure initiatives present opportunities for cooperation between South African and Slovak Republic.
Enquiries:
Sidwell Medupe, Departmental Spokesperson
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
Deputy Minister Thabethe in Slovak Republic to co-chair the Joint Council for Economic Cooperation
