The Diplomatic Society

 
  • Increase font size
  • Default font size
  • Decrease font size

South Africa urges Japan to catapult trade to new heights

Deputy President Cyril Ramaphosa and Ministers looking at the Hydrogen propelled car Toyota in Tokyo, Japan.Photo: Kopano Tlape

25 August 2015

Pretoria - Deputy President Cyril Ramaphosa has urged the Japanese to engage with South Africa in an effort to "catapult bilateral trade and investment relationships to new heights".

Addressing the Japanese Captains of Industry on Monday, the Deputy President used the opportunity to promote South Africa as a preferred destination of trade and foreign direct investment.

He told the Japanese of the many projects such as National Development Plan, the launch of the Industrial Development Zones (IDZs), such as the Coega Industrial Development Zone in the Eastern Cape, and the Dube Trade Port in KwaZulu-Natal and the Special Economic Zones (SEZs) in North West province, Saldanha Bay and the solar corridor in the Northern Cape as well as Operation Phakisa which are aimed at boosting the economy in the long run.

Deputy President Ramaphosa, who is on an official visit to Japan to strengthen and consolidate strategic bilateral, political and economic relations between the two nations, also told the Japanese investors that South Africa remains open for business.

Japan currently featured as South Africa’s third largest trading partner in the world with total trade amounting to approximately USD 8 billion in 2014.

During the same period, Japan became the second largest export partner and third largest import partner on the Asian Continent.

Currently, there are 280 Japanese companies operating in South Africa, and 13 South African companies in Japan.

However, although South Africa has been enjoying a trade surplus with Japan over the last five years, the composition of the trade basket needs to be addressed, said Deputy President Ramaphosa.

“As Captains of Japanese Industries the onus is upon you to ensure that these trade imbalances are rectified in favour of a more diversified trade basket.

“In pursuance of this aspiration, I propose the introduction of cooperation in the field of innovation, technology and SME development,” he said, adding that Pretoria remains a gateway to the rest of the continent.

He urged the Japanese business community to engage with South Africa's BEE institutions such as the “Business Unity South Africa” and the “Black Business Council”.

As a developing country, South Africa is taking various measures to free its people from the clutches of poverty and inequality.

Deputy President Ramaphosa's visit was aimed at promoting South Africa as a destination for foreign direct investment and trade.

His delegation included several Cabinet ministers, deputy ministers, senior government officials, and the CEOs of South African companies, including Transnet, Karan Beef, PPC, KPMG, the Maponya Group, and a number of other BEE companies.

SAnews.gov.za

 


 
 
 
 

_________________________________________________
_________________________________________________

Translater


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

6th African Film Week in Athens 13 March 2017 The 6th African Film Week taking place in Greece, brings to the big screen charming images from the African Continent: Urban legends, exoticism from... <|> Early warning centre for South Africa and Nigeria 14 March 2017 South Africa and Nigeria have agreed to establish an early warning centre to help mitigate and monitor possible threats and violence... <|> Abron Band from Iran share peace with music at Tsarogaphoka Primary School by Kgomotso Kgoale 14 March 2017 Kgwebong Consulting, an Organisation Development company that is dedicated to the... <|> Arctic Council at 20: Making a Difference Regionally By Srimal Fernando, Global Editor, The Diplomatic Society  We all know the temperatures are rising in the Arctic twice as fast as the... <|> Marrying of two iconic World Heritage Sites: South Africa’s Robben Island and Mauritius’ Le Morne Cultural Landscape 20 March 2017 Robben Island World Heritage Site (RIWHS) and Le Morne... <|> Easing travel regulations between South Africa and Kenya 3 May 2016 South Africa and Kenya have announced measures that will make travelling between the two countries easier. South African Home... <|> Freedom Park pays tribute to Sweden 21 March 2017 Human Rights Day is a significant day to South Africans for remembering not only the 69 people, who were killed during the Sharpeville Massacre,... <|> The SADC We Want 19 March 2017 President Jacob Zuma was among the regional leaders who participated in the Southern African Development Community (SADC) Extraordinary Summit of Heads of State and... <|> Coschem Creativity Award presented to Surinamese... <|> The Smurfs and the United Nations: Teaming up for a happier, more peaceful and more equitable world 20 March 2017 The popular Smurfs characters are encouraging children, young people and adults to... <|>
© copyright 2011-2017| The Diplomatic Society| All Rights Reserved.