The Minister of Trade and Industry Dr Rob Davies met with British Minister for Africa Henry Bellingham today in Pretoria. The meeting follows the third annual South Africa – United Kingdom (SA-UK) Trade and Investment Review which took place in Pretoria last month.
The main objectives of the Annual SA-UK Trade and Investment Review are to broaden and deepen sustainable partnership and cooperation in the fields of trade, investment and economic relations, and to provide a forum where the two sides could exchange information and discuss policy developments, and identify areas of mutual interest for cooperation across a range of sectors and themes important to both sides.
Minister Davies told Bellingham that the beneficiation of mineral products was at the top of the South African government’s and African Union agenda. The minister said that the process of beneficiation would add value to Africa’s economy and make returns for those investments more equitable and more enhancing.
Davies stated that the next round of Industrial Policy Action will focus amongst others on Skills development and agro-processing. According to Minister Davies, another important priority is to broaden African integration through advancing the agreed process to negotiate a trilateral SADC, East Africa Community (EAC) and Common Market for Eastern and Southern Africa (COMESA) "grand" free trade area. He said the SADC Free Trade will be enlarged and once established, this would bring into existence a free trade area literally from Cape to Cairo.
Minister Andrew Bellingham said that deepening their trade relations with South Africa is important and this is necessitated by President Zuma’s State Visit in the United Kingdom earlier this year. Over 200 business people participated in the visit.
Minister Bellingham told Davies that his country, which will host the next Olympics, will be tapping from South Africa’s experience of the World Cup.
South Africa and the UK have extensive trade and economic relations which continue to strengthen, although indications are that the global financial crisis has had a significant impact on bilateral trade. Over the last nine years total trade between the UK and South Africa increased by over 100% (114.7%) from R34.7 billion in 2000 to R74.5 billion in 2008.
Enquiries:Sidwell Moloantoa Medupe
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
Source: Department of Trade and Industry
