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South Africa and France Agree to Enhance Trade and Economic Relations
The Minister of Trade and Industry, Dr Rob Davies had a courtesy meeting with the new French Ambassador to South Africa, Christophe Farnaud in Cape Town. The two discussed the bilateral trade economic issues.
The meeting has emphasised sectors that the two countries can cooperate on such as Composite sector (ship building). 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 composite applications.
“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 to be held in France, Paris possibly by the end of March. The work agenda of economic relations between South Africa and France is coordinated through the South Africa – France Joint Economic Commission (SA – France JEC).
Minister Davies indicates that the broad aim of the Joint Economic Commission is to promote and strengthen trade and industrial co-operation between the respective economies. The forum provides an opportunity for consultation on issues of mutual interest, in particular, regional and global issues.
Total trade between the South Africa and France has gradually recovered to pre-crisis levels of 2007-08, growing by an annual average rate of 6.2% from 2010 to 2015. Currently major South Africa’s exports to France include vehicles, aircrafts, machinery and automobiles, while imports from France include pharmaceuticals, electrical and electronic equipment, turbo jets and vaccines for human use.
Minister Rob Davies and French Ambassador to South Africa, Christophe Farnaud
Sidwell Medupe-Departmental Spokesperson
Tel: (012) 394 1650
Mobile: 079 492 1774
Issued by: The Department of Trade and Industry
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