UK, SA strengthen trade ties
As the UK prepares to exit the European Union (EU), South Africa is engaging the country to strengthen existing trade ties and identify new mutually beneficial investment opportunities.
South Africa’s Trade and Industry Minister Dr Rob Davies and the UK Secretary of State for International Trade Dr Liam Fox met this week in London to discuss trade and economic relations.
“We must ensure that we have a predictable trade and investment environment for mutual benefit for both parties. As we work to achieve this, South Africa looks forward to discussing how our trade post-Brexit could build on the recently concluded Economic Partnership Agreement with the EU,” Davies said in a statement on Wednesday.
“As we become an even more outward-looking country, we will continue building on our relationship with South Africa,” added Fox.
The UK is the biggest destination in the EU for South African investment, accounting for 30% of the African country’s investments into Europe.
In addition, 46% of South Africa’s global investment originates from the UK, with South Africa the largest recipient – at 30%, or £13.1-billion – of UK foreign direct investment in Africa.
Bilateral trade in goods and services between the UK and South Africa stood at £7.6-billion in 2015, with UK exports of goods and services having increased by 25% in the last decade.
South Africa’s exports into the UK have increased more than 5% a year over the past ten years and the country is the third-biggest trading partner for the UK in the Commonwealth.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation