GERMANY REMAINS COMMITTED TO SUPPORT SOUTH AFRICA IN GROWING ITS ECONOMY

GERMANY REMAINS COMMITTED TO SUPPORT SOUTH AFRICA IN GROWING ITS ECONOMY

The Federal Minister for Foreign Affairs in the Federal Republic of Germany Dr Frank-Walter Steinmeier affirmed Germany’s commitment to support South Africa in growing its economy. He was speaking at the South Africa-German Business Conference held as part of the 8th session of the South Africa-Germany Bi-National Commission in Sandton today.

According to Dr Steinmeier the bilateral cooperation between the two countries has grown over the years and still many German businesses were interested in establishing themselves in this country and in partnering with South African businesses.

“This visit is part of our review of the foreign policy and the refreshing of our relations with South Africa. The National Development Plan (NDP) developed by this country provides an excellent analysis and the implementation thereof can move this country forward,” he said.

Dr Steinmeier applauded South Africa for establishing the Ministry of Small Business Development and said it was the Small, Medium and Micro Enterprises (SMMEs) that would make a meaningful contribution to the economy. He added that most of the members of the delegation accompanying him were SMMEs from Germany and were keen to participate in the economy.

The MEC for Economic, Environment, Agriculture and Rural Development in Gauteng, Mr Lebogang Maile said Germany was a significant trade partner to South Africa and that the country appreciated the role played by the German SMMEs in the South African economy. He highlighted that more cooperation needed in areas like manufacturing and mineral beneficiation.

“We want to modernise our economy and need the resources and ideas that German companies possess,” said Maile.

He added that intra-Africa trade was encouraged by South Africa for the next few years and this driven by the quest for Africa’s revolution of industrialisation.

Mr Yunus Hoosen who is the Acting Deputy Director-General of Trade and Investment South Africa at the Department of Trade and Industry (the dti) encouraged potential German investors to set up in South Africa. He informed the delegates of the opportunities available for them and the incentives provided by government for investors especially those who set up in the Special Economic Zones (SEZs).

During a panel discussion on cooperation in infrastructure Mr Hoosen encouraged German companies to partner South African entities to access infrastructure opportunities in South Africa and Africa.