The Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe has implored the South African business people to seriously consider investing in the Democratic Republic of the Congo (DRC) and finding companies to form joint ventures with in order to contribute to the reconstruction and development of the DRC.
Deputy Minister Thabethe was delivering a keynote address at a business seminar that was held in Kinshasa. The seminar, which was attended by about 150 business people from South Africa and the DRC, was part of first leg of the Investment and Trade Initiative that Thabethe is leading to the DRC.
“The South African government regards the DRC as a key and strategic partner in the continent. The relations between our countries started long time ago but were formalised in January 2004 when the Governments of South Africa and the Democratic Republic of Congo signed the General Cooperation Agreements, which made provision for the establishment of a Bi-National Commission (BNC). The establishment of the BNC has been instrumental in cementing relations between the two countries and paving the way for cooperation beyond the political sphere,” said Thabethe.
She added that the two-way trade between South Africa and the DRC stood at R7.8 billion in 2011 compared to R6.2 billion in 2010 and R4.8 billion in 2009.
“This demonstrates a steady growth in two-way trade between the two countries, although, the trade balance is still skewed in favour of South Africa. The challenge, therefore, is to reduce this imbalance, without necessary reducing South Africa’s exports to the DRC, but by increasing joint ventures between Congolese and South African business people.
However, it should be noted that imports from DRC increased by more than 5 percent from 2010 to 2011, which is a welcome improvement from R103,768 million to R108.242 million,” added Thabethe.
The seminar was also attended by the DRC’s Minister of Economic Affairs and Trade Mr Jean Paul Begepole and Minister of Industry Mr Remy Musungayi Bampale, as well as the South African Ambassador to the DRC Mr Ntsiki Mashimbye and the Congolese Ambassador to South Africa, Mr Bene M’Poko.
Minister Bampale said the DRC government was in the process of implementing its programme of action that is referred to as the Revolution of Modernity and was aimed at rebuilding the country’s economy, and bettering the lives of its people.
“Our government has signed agreements with South Africa to ensure that the South African investments in the DRC are protected, as well as to make sure that there was no double taxation for the South African companies doing business in the DRC. In addition, our government is working hard to improve the business climate in the country in order to make the environment of doing business here conducive for everyone, including foreign investors,” said Bampale.
Deputy Minister Elizabeth Thabethe is leading a business delegation on an Investment and Trade Initiative (ITI) to the Democratic Republic Congo. She says the purpose of the initiative is to strengthen economic cooperation between the countries.
Enquiries:
Sidwell Medupe, Departmental Spokesperson
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
