The Minister of Trade and Industry, Dr Rob Davies and his Deputy Minister Gratitude Magwanishe, will leave this evening for Paris, France to attend the Joint Economic Commission between South Africa and France. The Ministerial Joint Economic Commission will be preceded by the South Africa – France Business Forum which will be attended by business delegations from both countries.
The Joint Economic Commission will amongst others discuss the following:
- Review bilateral trade and investment relations,
- Market access issues and sanitary and phytosanitary issues,
- Business environment and policy development in South Africa, and
- Institutional cooperation on economic, transport, energy and agro-processing.
The SA-France Business Forum will be hosted by Business France. Last year on the margins of President Jacob Zuma’s State Visit to the French Republic, InvestSA and Business France signed a Declaration of Intent (DOI) on Economic and Investment Cooperation. Business France is the trade and investment promotion agency of France, while InvestSA is the newly established investment division in the Department of Trade and Industry (the dti) championing the One-Stop Shop approach of South Africa.
The main objectives of the Declaration of Intent are:
- To strengthen and to assist cooperation aimed at enhancement of investment activities between the two countries
- Investment facilitation and enabling conditions for sustainable growth of economic cooperation; and
- To develop direct contacts between business circles in the Republic of South Africa and the Republic of France.
Earlier in the year Minister Rob Davies and the French Ambassador to South Africa, Christophe Farnaud, met in Cape Town, and emphasised sectors that the two countries can cooperate on such as the composites sector. South Africa is new in composite manufacturing while France is the leader in the sector. Minister Davies says South Africa would like to see investments and technical collaboration in the sector.
“Strengthening of relations between the South African and French businesses on composites and advanced manufacturing in general will create opportunities for both countries. Advanced manufacturing is viewed as a sector for future economic growth. There are several investment opportunities for French businesses in the South African composite sector and advanced manufacturing,” states Davies.
The sectors that the two countries can corporate on will be further discussed at the Joint Economic Commission between South Africa and France. The work agenda of economic relations between South Africa and France is coordinated through the South Africa – France Joint Economic Commission.
Distributed by APO on behalf of The Department of Trade and Industry, South Africa.
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