http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.49Change: -0.02
R/$ = 11.88Change: 0.20
Au 1214.08 $/ozChange: 19.92
Pt 1149.50 $/ozChange: 15.00
 
 
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|Property Development|Africa|Products|Property Development|Rubber|Infrastructure
Africa|Building|Property Development|Africa|Products|Property Development|Rubber|Infrastructure
africa-company|building|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
South Africa’s crude steel production dropped by a sizeable 17.2% year-on-year to an estimated 530 000 t in April, amplifying a global trend that saw world steel production decline by a comparatively marginal 1.7% to 135-million tons in the fourth month of the year....
The Treasure the Karoo Action Group (TKAG) on Friday called on government to delay publishing final regulations and issuing rights for shale gas exploration in the Karoo, until a 24-month strategic environmental assessment (SEA) has been concluded. TKAG CEO Jonathan...
More
 
 
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
 
 
 
 
 
This Week's Magazine
While economic forecasts for the African continent are most favourable, African airlines may not be able to benefit from the expected growth in the region’s gross domestic product (GDP), International Air Transport Association VP: Africa Raphael Kuuchi has warned....
The Automotive Production and Development Programme (APDP) will need to change substantially post 2020, says Metair Investments South African operations COO Ken Lello. “We must not make tweaks. We have to change. What we are doing is not sustainable.”
Banking group Absa’s forecast is for the rand to end the year at around R13 against the dollar, weakening further to R13.50 by 2016, says Absa sectoral analyst Jacques du Toit. He warns that possible interest rate hikes in the US may see capital being pulled from...
The Dispute Resolution Centre at the Bargaining Council for the Civil Engineering Industry (BCCEI) is now open to handle party-to-party disputes. The BCCEI represents the interests of all level four to nine Construction Industry Development Board companies.
FREDRIK JEJDLING Sustainability becomes an important part of a business’ decision-making process
Communications technology firm Ericsson sub-Saharan Africa head Fredrik Jejdling says the company’s commitment to sustainability and corporate responsibility has been integrated into all facets of its operations, which has provided it with sustainable revenue...
 
 
 
 
 
 
 
 
 
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