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Minister Nkoana-Mashabane to host her Austrian counterpart

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Minister Nkoana-Mashabane to host her Austrian counterpart:

International Relations and Cooperation Minister Maite Nkoana-Mashabane will meet with her Austrian counterpart, Sebastian Kurz, the Minister for Europe, Integration and Foreign Affairs, on 24 October 2016 in Pretoria. Minister Kurz is visiting South Africa from 24-26 October 2016, heading a 50-person strong business delegation, which includes the President of the Austrian Chamber of Commerce.

South Africa enjoys good bilateral relations with Austria, focused primarily on economic exchanges. In 2015 total trade between Austria and South Africa amounted to R7, 76bn. South African exports were R0, 92bn and imports at R6, 82bn. South Africa ranks 6th amongst Austria’s overseas trading partners and is Austria’s major trading partner in Africa. 

The top five key South African export categories to Austria in 2015 were Iron & Steel (22%); Gold, Platinum, Diamonds & Jewellery (21%); Ores (19%); Vehicles & Accessories (16%), as well as Beverages & Spirits (4%). The top five imports from Austria to SA in 2015 were Catalytic Converters, Computers & Mechanical Appliances (16%); Paper & Paperboard (12%); Cellphones, Electrical Equipment and Machinery (11%); Articles of Iron and Steel (10%), as well as Vehicle Components (8%).

Bilateral investment relations remain strong, with the South African Reserve Bank in 2014 recording South African direct investment in Austria at around R43 billion, against about R10 billion of Austrian total direct investment in South Africa. Major South African businesses in Austria include Mondi, SAPPI Ltd and NET1 Technologies. 

Distributed by APO on behalf of Republic of South Africa: Department of International Relations and Cooperation.

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Republic of South Africa: Department of International Relations and Cooperation
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Source: APO – Africa-Newsroom: latest news releases related to Africa.

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