European Union (EU) is still South Africa's largest trade bloc in the world. This was said by the South African representative; also the Director-General of the Department of Trade and Industry (the dti), Mr Lionel October. He was speaking at the Europe Day celebration hosted today at Gallagher Estate, Midrand, Gauteng.
Europe Day is an opportunity for activities and festivities designed to bring the EU's institutions closer to the public, and the bloc's peoples closer to one another. The ideas behind the European Union were put forward on 9 May 1950 by the French foreign minister, Robert Schuman. This date is now celebrated as a key moment in the creation of the EU. 9 May, or Europe Day, is the anniversary of the 'Schuman declaration'.
October highlighted the fact that relations with the EU have matured over time and that the organisation still remains the largest trade bloc in the world.
South Africa's exports to the EU are growing and the composition of those exports is becoming more diverse. We are gradually moving from mainly commodity-based products to a more diversified export he said.
According to research South Africa's primary exports to the EU are mining products, machinery and transport equipment and other semi-manufactured goods. EU exports to South Africa are dominated by chemicals, machinery & transport equipment and other semi-machinery.
October added that when South Africa achieved its democracy in 1994, it had an isolated economy and the EU was one of the first trade blocs to offer a trade and investment agreement that had 90 per cent of the goods duty free for twelve years.
EU Ambassador to South Africa Roeland van de Geer said the bloc would continue to offer support to South Africa in addressing its key programmes and believes in intra-Africa Trade to grow the African economy.
We are fully committed to close corporation with all countries that foster peace, stability and foreign investment, and South Africa has been leading in this respect and seventy percent of EU investors are fully satisfied with how things are operating in the country, added Ambassador van de Geer.
Enquiries:
Sidwell Medupe
Departmental spokesperson
Cell: 079 492 1774
Tel: 012 394 1650
E-mail: MSMedupe@thedti.gov.za
European Union is South Africa's largest trade bloc in the world
