http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.73Change: -0.08
R/$ = 12.40Change: -0.10
Au 1167.55 $/ozChange: -1.25
Pt 1056.00 $/ozChange: -26.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
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 Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Feb 06, 2009

SA, Mauritius sign economic cooperation agreement

Back
Africa|Building|Cement|Property Development|Africa|Products|Property Development|Rubber|Infrastructure
Africa|Building|Cement|Property Development|Africa|Products|Property Development|Rubber|Infrastructure
africa-company|building|cement|property-development-company|africa|products|property-development|rubber|infrastructure
© Reuse this



Trade and investment relations between South Africa and Mauritius were strengthened on Thursday with the signing of a memorandum of understanding (MoU) on economic cooperation between the two South African Development Community (SADC) countries.

The signing ceremony, which was conducted in Cape Town, was led by South African Minister of Trade and Industry, Mandisi Mpahlwa, and the Mauritian Minister of Foreign Affairs, Regional Integration and International Trade, Dr Arvin Boolell.

Trade and investment relations had been growing between the two countries over the last few years but it was anticipated that the MoU would help to cement and strengthen that relationship.

Mauritius was one of South Africa’s largest trading partners with exports to the island amounting to R2,4-billion in 2007.

However, Mpahlwa told delegates that a significant trade imbalance existed between the two countries as the value of imports from Mauritius only amounted to R437-million in 2007, which was up from R124-million in 2003.

South Africa predominantly exported mineral commodities, machinery, prepared foodstuffs, and chemical-based products to Mauritius, while imports focused on textiles, clothing and rubber.

Mpahlwa said that the main objective of the MoU was to encourage mutual economic growth, promote infrastructure development, and facilitate capacity building among the two nations.

The MoU was also indicative of the fact that the South African Government was working ever closer with SADC members to promote economic development on the African continent, said Mpahlwa.

Although intra-regional trade between the 14 SADC countries was steadily growing, Mpahlwa said that a trade balance existed in favour of South Africa.

However, to promote further economic development in the rest of the SADC region, balanced trade between all countries was a prerequisite.

Mauritius' Boolell said that the meeting between the two government representatives had been very fruitful.

He stated that his country had exceptional relations with South Africa and that it had always been responsive to the needs of Mauritius in terms of technical assistance and capacity building.

Bollel continued that the strengthening of economic ties between the two countries was especially important in the current international financial crisis.

Owing to the global financial crisis, there was a concern that the “ugly head of protectionism”, in the countries hardest hit by the credit crunch, may start to raise its head, he stated.

Thus, on the back of fears that trade with the western world could start to decrease with the imposition of protectionist tariffs, the MoU on economic cooperation was essential to ensure continued trade and investment in South Africa and Mauritius.

Boolell continued that the Mauritian government had made it easier for South African companies to invest in the country over the last few years, especially in emerging sectors such as property development.

The private sector remained the main engine of growth in Mauritius, and Boolell concluded that his government was contemplating introducing additional incentives to encourage further investment in the country.

Edited by: Creamer Media Reporter
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
Updated 20 minutes ago State-owned entity Transnet National Ports Authority (TNPA) has started the registration process for its integrated port management system (IPMS), which is scheduled to go live in the Port of Durban at the end of July. TNPA started issuing registration instructions...
Updated 53 minutes ago The development of rural road infrastructure and public transport services remains critical to the delivery of South Africa’s – and other African States’ – developmenta agenda, requiring meticulous planning that ties in with the socioeconomic needs of the host...
Updated 56 minutes ago South Africa-focused mineral explorer and developer White Rivers Exploration (WRE) has signed a memorandum of understanding (MoU) with Windfall Energy to facilitate the joint exploration and development of WRE’s Heilbron and Kroonstad gas assets in the Witwatersrand...
More
 
 
Recent Research Reports
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,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Construction 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Electricity 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Road and Rail 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
 
 
 
 
 
This Week's Magazine
NHLANHLA NENE The main constraints to economic growth are domestic
Finance Minister Nhlanhla Nene earlier this month stated that, while South Africa’s 2015 economic growth target of 2% was achievable, it was not enough to deliver the tax revenue needed to combat the country’s challenges.
The World Steel Association has published the 2015 edition of the World Steel in Figures report, which shows an increase in steel production as well as provides an overview of steel industry activities from crude steel production to apparent steel use.
The 25-year master plan for Gauteng’s Aerotropolis project will go through a process of approval and adoption during June and July, says Aerotroplis project manager Jack van der Merwe. “We are also in the process of putting together a special purpose vehicle (SPV) to...
SOLAR PANELS The existing buildings in the Coega Industrial Development Zone lent themselves well to rooftop solar panel installations
The Coega Development Corporation (CDC) plans to fit 15 of its buildings, totalling 127 000 m2 of roof space, in the Coega Industrial Development Zone (IDZ), in the Eastern Cape, with solar panels.
The Supreme Court of Appeal’s (SCA’s) November 2014 judgment, ordering steel producer ArcelorMittal South Africa (AMSA) to hand over the 2003 Environmental Master Plan for its Vanderbijlpark steel plant to environmental pressure groups, confirmed the right of civil...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
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
 
 
Close
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