http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.35Change: 0.01
R/$ = 11.17Change: 0.00
Au 1222.86 $/ozChange: 1.43
Pt 1332.00 $/ozChange: 1.00
 
 
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 Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Feb 06, 2009

SA, Mauritius sign economic cooperation agreement

Back
Cape Town|Africa|Cement|Property Development|Africa|Mauritius|South Africa|Building|Chemical-based Products|Machinery|Products|Property Development|Rubber|SADC|South African Government|Arvin Boolell|Infrastructure|Mandisi Mpahlwa
|Africa|Cement|Property Development|Africa||Building|Products|Property Development|Rubber||Infrastructure|
cape-town|africa-company|cement-company|property-development-company|africa|mauritius|south-africa|building|chemicalbased-products|machinery|products|property-development|rubber|sadc|south-african-government|arvin-boolell|infrastructure|mandisi-mpahlwa
© 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
The Standard Bank Group has been named one of the world’s greenest banks by Bloomberg Markets, ranked eighteenth out of 20 global finance institutions recognised for their investments in green-energy projects and efforts to reduce their own waste and carbon...
The Department of Environmental Affairs (DEA) was considering establishing an air quality index, to make information on the quality of ambient air in South Africa more accessible, DEA national air quality officer Dr Thulie Mdluli said on Tuesday. She noted that the...
Patricia de Lille, PJ Rabie and Dominic Chennells
In a boost for renewable energy, the City of Cape Town has signed its first small-scale embedded electricity generation contract with Black River Park Investments, an office park in Observatory.  The 74 000 m2 office park uses large-scale solar power systems to...
More
 
 
Recent Research Reports
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 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 network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
 
 
 
 
 
This Week's Magazine
MANUFACTURING CAPABILITY Reliable Transformers designs and manufactures dry-type and oil-filled power and distribution transformers up to 3.5 MVA
While Ekurhuleni-based transformer manufacturer Reliable Transformers currently designs, manufactures and tests its products according to the SANS 780 specifications for distribution transformers and other applicable transformer specifications, it is working towards...
GHAREEB SAAD Kaspersky Lab products contain strong heuristics engines that monitor suspicious file execution to detect attacks
Global endpoint security solutions company Kaspersky Lab has introduced new measures to prevent cyber criminals from accessing sensitive data, alongside its malware-signature and heuristic device analysis detection methods. Threats to mobile devices have increased...
MICHAEL FLETCHER Real-time information available to government when citizens use publicly funded Wi-Fi networks will enable it to communicate with citizens and provide services
To ensure uptake and a positive impact, Wireless Fidelity (Wi-Fi) networks in cities must be provided at schools, community centres and commercial centres to enable citizens and government to access information that will improve access to and delivery of services....
Eco-estate Monaghan Farm, located near Lanseria airport, north-west of Johannesburg, has taken a new approach to modern living and sustainability with its 517 ha development, dedicated to farm living.
Forklift and lift-truck distributor Goscor Lift Hi-Reach launched the Genie SX-180, the tallest self-propelled super boom in Africa, in Johannesburg last month. “As the official distributor of the well-known Genie range of equipment in Southern Africa, we are pleased...
 
 
 
 
 
 
 
 
 
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