R/€ = 15.29Change: -0.05
R/$ = 14.47Change: -0.08
Au 1065.00 $/ozChange: 7.12
Pt 831.50 $/ozChange: -4.00
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?

And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters About Us
RSS Feed
Article   Comments   Other News   Research   Magazine  
Dec 03, 2010

SA aims to expand trade with Zambia by $250m in 2011

South African President Jacob Zuma and Zambian President Rupiah Banda speaks about opportunities of trade between the two countries and within the Sadc region. Camerawork: Nicholas Boyd, Editing: Darlene Creamer.
© Reuse this

Bilateral trade between Africa’s largest economy, South Africa, and one of the continent’s rising economic stars, Zambia, dropped significantly in the last year, from a high of $1,5-billion to just under $1-billion – though the trade balance remained in favour of South Africa.

But South Africa’s Department of Trade and Industry indicated at the weekend that efforts were being made to recoup the losses and expand trade relations further.

Acting deputy director-general Riaan le Roux said that a target had been set to grow bilateral trade by about 25%, or $250-million, in 2011.

South Africa remained Zambia’s principal trading partner in the Southern Africa Development Community (SADC), while Zambia is South Africa’s third-largest trading partner in the region.

Speaking at a Zambia-South Africa business forum in Johannesburg, Business Unity South Africa CEO Jerry Vilakazi lamented the fact that intra-African trade remained low at around 10% of total trade. This, owing to insufficient intraregional infrastructure, which remained a major obstacle for trade between African countries.

President Jacob Zuma concurred, saying that it had been decided by the African Union to develop the so-called ‘North-South corridor’, which, together with regional integration efforts, would facilitate trade and physical connectivity between countries.

His Zambian counterpart Rupiah Banda emphasised the progress being made in that country to reduce the burden on businesses.

Zambia was recently identified in a World Bank survey as one of the ‘top ten reformers’ in easing the business environment for investors. Currently, a business can be registered in one day, compared with South Africa where it still takes seven days.

Zambia was also delivering growth rates that were above the continent's average. The copper-rich country was expected to expand by 6,6% this year, and by 6,4% in 2011.

However, Banda said that this was still not high enough, and that Zambia hoped to boost its growth rate to between 8% and 10% between 2011 and 2030.

“By 2030, Zambia wants to be a middle-income country, and we have been putting all the necessary policies and incentives in place to achieve this.”

The country, which still generates most of its income from the mining industry, would also be pursuing diversification programmes.

Commerce, Trade and Industry Minister Felix Mutati said that a strong focus would be given to value-added mining, and in diversifying the country’s economy into sectors such as energy, tourism, agroprocessing, manufacturing, and information and communication technology.

The centrally located country is also host to almost 40% of surface and underground water resources in the SADC region, which created significant opportunity for the development of hydroelectricity capacity.

Mutati noted that this could be a key area for collaboration between the two countries, particularly give the power shortages in the region.

Meanwhile, South Africa’s Trade and Industry Deputy Minister Elizabeth Thabethe said that nurturing and stimulating small and medium-sized enterprise (SME) trade would also be key to improving bilateral trade relations.

She noted that South Africa companies were among Zambia’s biggest investors, having invested $1,4-billion in the country between 1991 and 2010, mostly in the resources environment.

But she added that SMEs still had a significant role to play in the “intertwined” destinies of the two countries.

Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
© Reuse this Comment Guidelines (150 word limit)
Other Video News
Latest News
Updated 5 hours ago The tide has turned for South African ports and the Transnet National Ports Authority (TNPA) is pressing ahead with its investment under Transnet’s Market Demand Strategy (MDS) notwithstanding poor economic growth. TNPA CEO Richard Vallihu told a TPA...
Updated 5 hours ago A 7 500 m2 rooftop solar system has been installed on several buildings at the V&A Waterfront, in Cape Town. The powering of several buildings on the iconic property will result in an estimated 1 640 000 kWh/y of clean energy. So far, 900 kW have been successfully...
Updated 5 hours ago The 865 km gas pipeline from the central processing facility (CPF) in Temane, Mozambique, to Secunda, South Africa, is to undergo a further $210-million expansion, the Republic of Mozambique Pipeline Investments Company (Rompco) confirmed on Monday. Rompco is a joint...
Recent Research Reports
Water 2015: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2015 Report considers the aforementioned issues, not only in the South African context but also in the African and global context in terms of supply and demand, water stress and insecurity, and access to water and sanitation, besides others.
Input Sector Review: Pumps 2015 (PDF Report)
Creamer Media’s 2015 Input Sector Review on Pumps provides an overview of South Africa’s pumps industry with particular focus on pump manufacture and supply, aftermarket services, marketing strategies, local and export demand, imports, sector support, investment...
Liquid Fuels 2015: A review of South Africa's liquid fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2015 Report examines these issues in the context of South Africa’s business environment; oil and gas exploration; fuel pricing; the development of the country’s biofuels industry; the logistics of transporting liquid fuels; and...
Road and Rail 2015: A review of South Africa's road and rail sectors (PDF Report)
Creamer Media’s Road and Rail 2015 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail infrastructure and network, the funding and maintenance of these respective networks, and...
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
This Week's Magazine
The BMW Group will invest R6-billion at BMW Group South Africa’s (BMW SA’s) Rosslyn plant to produce the next-generation X3 sports-activity vehicle (SAV) for the local and export markets. Rosslyn will continue production of the current 3 Series through its lifecycle,...
The lack of consequences for poor performance and transgressions on the part of contractors remains a significant hurdle to tackling South Africa’s service delivery challenges, delegates heard at the Consulting Engineers South Africa Infrastructure Indaba, on...
City of Ekurhuleni executive mayor Mondli Gungubele earlier this month officially named the city’s bus rapid transit (BRT) system, Harambee.
NICK CHRISTODOULOU As about 58% of data stored by organisations is dark, they must identify this dark data to expose risks and valuable information
About 58% of unstructured data stored by companies is dark data, which means that the value or regulatory importance of the data has not been determined. Subsequently, most of the stored data add costs, rather than increasing revenue or reduce regulatory risks, says...
BRIAN VERWEY Effective management, review and administration of non-core elements can improve business operations and increase revenue and decrease unforeseen risks
Effective logistics, import/export and manufacturing consulting services require detailed industry knowledge and experience, but can add significant value to these industries by providing expert advice on various technical elements in their value chains, says...
Alert Close
Embed Code Close
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96