On Sunday, 2 June 2013, H.E. Dr Robert Haydn Davies, Minister of Trade and Industry, of the Republic of South Africa and H.E. Mr Toshimitsu Motegi, Minister of Economy, Trade and Industry, Japan - met in Yokohama, Japan to discuss the reports of the joint study on economic cooperation.
The proposal for a joint study was endorsed by the two Ministries during a bilateral meeting that took place in Tokyo, Japan in June 2012. This followed a mutual recognition that economic relationships could be deepened if both countries were to focus their cooperation in selected sectors wherein the potential for mutually beneficial outcomes existed.
The study, which was concluded in May 2013, was undertaken by Mitsubishi Research Institute, HUDA Consulting and Mthente Research and Consulting Services. The reports of the study highlighted certain areas of joint cooperation with a particular focus on sectors such as autos and auto components, mineral beneficiation and agro processing to foster further economic activities for increased trade between South Africa and Japan.
The measures considered in support of the identified sectors include technology and skills transfer, competitiveness improvement programmes, cooperation in downstream value addition and secondary processing of mineral resources, as well as increased trade and investment particularly in the identified agro processed products.
Ministers welcomed the study as an important tool to give focused attention to the bilateral relationship and a valuable step in strengthening trade ties between the two countries. They acknowledged that government in partnership with private sector has an important role to play in promoting a mutually beneficial and robust trade and investment relationship.
Ministers further directed officials to consolidate the recommendations emanating from the reports and develop a joint work programme to implement the recommendations in this regard.
Enquiries:
Sidwell Medupe, Departmental Spokesperson
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Tel: 012 394 1650
E-mail: MSMedupe@thedti.gov.za
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