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Trade News

African nations join majority in opposing US blockage at WTO

By: Reuters Updated 3 minutes ago African countries have joined the list of nations wanting an end to a US veto on judicial appointments at the World Trade Organization (WTO), a statement showed on Wednesday, meaning a large majority of WTO member States now openly oppose the US position. The US is blocking new appointments... →

AfCFTA, collaboration key to increasing trade in Africa – panel

By: Simone Liedtke 25th June 2019 The African Continental Free Trade Area plays a role in increasing intra-African trade, but Kenyan ambassador to South Africa Jean Kamau told delegates attending the Manufacturing Indaba, on Tuesday, that negotiations and collaboration between countries and the private sector were key to... →

Photo by Creamer Media's Dylan Slater
Kenyan Ambassador to South Africa Jean Kamau

Airline body regional head highlights importance of aviation to Africa’s development

By: Rebecca Campbell 25th June 2019 The importance and potential of, and challenges facing, commercial aviation in Africa were highlighted at the International Air Transport Association (Iata) Regional Aviation Forum, in Accra, Ghana, on Monday. “Aviation is a key enabler for economic and social prosperity in Africa,” highlighted... →

South Africa, China sign deals that signify ‘deepening economic relationship’

By: Simone Liedtke 24th June 2019 The signing of 93 economic and trade cooperation agreements between South African and Chinese entrepreneurs signifies a deepening of the economic relationship between the respective countries, newly appointed Trade and Industry Minister Ebrahim Patel said in a statement. The statement was issued... →

Trade and Industry Minister Ebrahim Patel handing peppadews to Chinese Assistant Minister of Commerce Ren Hongbin and Ambassador Lin Songtian as part of promoting Proudly SA products

US official outlines conditions for enticing more US firms to Africa

By: Terence Creamer 21st June 2019 US Assistant Secretary of State for African Affairs Tibor Nagy believes there is a window of opportunity for South Africa to attract direct investment from American firms that are currently seeking outlets for billions of dollars in capital, accumulated as a result of strong economic conditions... →

Standard Bank launches Africa China Agent Proposition in South Africa

By: Tasneem Bulbulia 21st June 2019 Standard Bank on Friday launched its Africa China Agent Proposition (ACAP), which connects African importers and Chinese exporters and facilitates trade financing and payments and collections that support Africa–China trade flow, in South Africa. →

SA urged to home in on green-hydrogen export niche

By: Schalk Burger 21st June 2019 The technology to produce green hydrogen, which is produced by electrolysing water using renewable energy, in South Africa is becoming cost-effective enough to develop the capacity to sell the product in local and international industrial markets, says technical advisory services firm Kambuku... →

Trade figures at record high

By: Mc'Kyla Nortje 21st June 2019 In recent years, trade figures between South Africa and Germany have been at a record high with a trade volume of more than €17-billion last year, says Southern Africa German Chamber of Commerce and Industry (SAGCCI) CEO Matthias Boddenberg. He adds that there is a positive development of exports... →

TRAIN THE TRAINER SAGCCI currently offers the AdA “Train the Trainer” apprenticeship that is accredited by the German Foreign Chambers of Commerce and the Southern Africa German Chamber of Commerce and Industry

Tambo Springs project an 'exciting experience', says Italian Railways

By: Irma Venter 20th June 2019 Italian Railways senior VP Nino Cingolani expects the consortium appointed as the preferred bidder in the Tambo Springs Intermodal Terminal project to sign the 20-year concession agreement with Transnet Freight Rail by the end of the year. The consortium, announced earlier this month, is led by... →

Nigeria to consider its industries in Africa free trade zone decision

By: Reuters 20th June 2019 Nigeria will consider the interests of its industries in deciding whether to sign up to a $3-trillion Africa free-trade agreement, President Muhammadu Buhari said in a meeting with local manufacturers on Wednesday. The African Continental Free Trade Agreement (AfCFTA) encompasses 1.2-billion... →

Aspen Pharmacare exec stresses need to include private sector in Iora

By: Shirley le Guern 18th June 2019 The Indian Ocean Rim Association (Iora) conference, held in Durban on June 17 and 18, presented an opportunity to reconfigure the conference from what has” largely been a talk shop” to “something that will make sense to business people”, Aspen Pharmacare senior executive Dr Stavros Nicolaou said.... →

Indian Ocean Rim economies urged to increase trade with each other

By: Shirley le Guern 18th June 2019 It is time to re-energise the Indian Ocean Rim Association (Iora), created by Nelson Mandela in 1997, and transform it into an active body that unlocks tangible business opportunities and helps negotiate the removal of disruptive nontariff barriers between the 22 member States. This was the... →

AMIE calls on government to lead formulation of a national poultry strategy

By: Tasneem Bulbulia 14th June 2019 The right of South Africans to access a prime source of dietary protein must outweigh the factional interests of sectors of the poultry producing industry, the Association of Meat Importers and Exporters (AMIE) said on Friday, when it called on government to arbitrate in the brewing tariff battle... →

Indaba to foster African trade

By: Mamaili Mamaila 14th June 2019 The 2019 Manufacturing Indaba will host several trade and industry Ministers from Africa, with the focus leaning towards facilitating trade between African countries. →

CROSSBORDER TRADE The Manufacturing Indaba will create a space for increased trade with neighbouring countries and facilitate deal-flow

Brazilian VP says Brics should focus on economics, not politics

By: Rebecca Campbell 14th June 2019 In comments made in Beijing on May 24, which appear not to have been much, if at all, reported outside his home country, Brazilian Vice President Hamilton Mourão called on the Brazil, Russia, India, China, South Africa (Brics) alignment to switch away from political issues and focus instead on... →

Trade expectations rise following elections

By: Marleny Arnoldi 12th June 2019 The South African Chamber of Industry and Commerce’s (Sacci’s) Trade Activity Index (TAI) rose to 41 in May, from 37 in April, while the Trade Expectations Index (TEI) rose to 49, from 39 in April. The respondents in Sacci’s trade survey indicated that the election results had improved... →

Trade wars a drag on global economy, says Patel

By: African News Agency 10th June 2019 Trade and Industry Minister Ebrahim Patel said on Monday that heightened uncertainty from growing trade tensions was also placing a drag on an already fragile global economy. This as Patel returned from Japan where he attended the two-day G20 Joint Trade and Digital Economy Ministers and the G20... →

Turnaround strategy for production tech industry making headway

By: Tracy Hancock 7th June 2019 Intsimbi Future Production Technologies Initiative (IFPTI) is making headway with its turnaround strategy for South Africa’s distressed tooling industry and is receiving substantial recognition locally and internationally, but many small, lower technology companies are still struggling, says... →

CHANGE IS NECESSARY The South African manufacturing sector cannot survive without the support of a strong, vibrant and technologically sophisticated local tooling industry

Machine tools sector preparing local manufacturing for 4IR

By: Tracy Hancock 7th June 2019 Technological advancements in the local machine tools industry will help grow South Africa’s struggling manufacturing sector, says corporate association of manufacturers Manufacturing Circle (MC) executive director Philippa Rodseth. The manufacturing sector’s contribution to South Africa’s gross... →

PHILIPPA RODSETH A skilled workforce that can benefit from innovation and investments in new technologies is key to driving manufacturing competitiveness

TFR to conduct yearly maintenance shutdown on MMC line this month

By: Simone Liedtke 5th June 2019 State-owned Transnet Freight Rail (TFR) will be conducting its yearly maintenance shutdown on the Mineral Mining and Chrome (MMC) line from June 4 to 10. The shutdown will allow TFR to undertake maintenance work that cannot take place during normal occupational conditions. →

Southern Palace-led consortium named preferred bidder for R2.5bn Tambo Springs container terminal

By: Terence Creamer 5th June 2019 State-owned freight logistics utility Transnet has named a consortium led by black-empowerment group Southern Palace as the preferred bidder for a 20-year concession to build and operate a new R2.5-billion inland container terminal in southern Gauteng. The public–private partnership, dubbed the... →

Global manufacturing shrinks amid Wall Street recession warning

By: Bloomberg 4th June 2019 Global manufacturing was the weakest since 2012 last month, a victim of mounting trade tensions and further reason to worry that the world economy is weakening. With softness in Germany, Japan, the UK – as well as the lowest US result in a decade – IHS Markit’s global Purchasing Managers Index... →

Brazilian VP says Brics should focus on economics, not politics

By: Rebecca Campbell 3rd June 2019 In comments made in Beijing on May 24, which appear not to have been much, if at all, reported outside his home country, Brazilian Vice-President Hamilton Mourão called on the Brazil, Russia, India, China, South Africa (Brics) alignment to switch away from political issues and focus instead on... →

Seifsa welcomes operational phase of African Continental Free Trade Area

By: Marleny Arnoldi 3rd June 2019 The Steel and Engineering Industries Federation of South Africa has welcomed the official start of the African Continental Free Trade Area (AfCFTA) at the end of May. AfCFTA provides access to a continent-wide market of around 1.2-billion people, and is worth $2.5-trillion. →

Deterioration in headline PMI worrying, says Seifsa

By: Nadine James 3rd June 2019 The seasonally adjusted Absa Purchasing Managers’ Index (PMI) erased most of last month’s gain and fell to 45.4 index points in May from 47.2 points in April, which – excluding the drop to 45 points in March – is the weakest level since October 2018. The decline brought the average PMI for the... →

South Africa records R3.43bn trade deficit in April

By: Reuters 31st May 2019 South Africa recorded a trade deficit of R3.43-billion in April from a revised R4.71-billion surplus in March, data from the revenue service showed on Friday. Exports fell by 1.3% on a month-on-month basis to R103.75-billion in April, while imports rose 6.8% to R107.18-billion, the South African... →

Wesgro welcomes coming into force of Africa trade agreement

By: African News Agency 31st May 2019 The tourism, trade and investment promotion agency of Cape Town and the Western Cape, Wesgro on Friday welcomed the coming into force of the African Continental Free Trade Area Agreement, saying it had the potential to bring investment. AFCFTA is the legal tool for the creation of a single market... →

Wesgro CEO Tim Harris

Innovation policy requires careful consideration – TIPS

By: Marleny Arnoldi 30th May 2019 Industrialisation requires innovation and, despite increased investment into science, technology and innovation, as well as the implementation of policies designed to encourage innovation, South Africa’s innovation activities remain constrained, Trade and Industrial Policy Strategies (TIPS)... →

Photo by Creamer Media's Dylan Slater
TIPS executive director Saul Levin

What trade war? Africa sidesteps tariffs, starts free-trade pact

By: Bloomberg 30th May 2019 Africa, largely ignored in a US-China trade war that could roil economies worldwide, is quietly piecing together the world’s largest free-trade zone. The African Continental Free Trade Area comes into force on paper on Thursday after the required 22 countries ratified the deal a month ago. Once... →

Satawu plans ‘total shutdown’ of South Africa’s ports

By: Simone Liedtke 28th May 2019 South African Transport and Allied Workers Union (Satawu) members are set to down tools at all of South Africa’s ports from 06:00 on Thursday, May 30. Satawu on Monday served the Transnet National Ports Authority (TNPA) with a strike notice after the Commission for Conciliation, Mediation and... →

EU eyes end-run around US action set to hobble WTO influence

By: Bloomberg 28th May 2019 The European Union (EU) on Monday will take steps to get around a stranglehold the US has placed on the World Trade Organization’s (WTO's) appellate body, which would allow countries to continue to adjudicate disputes within the international system. Trade ministers from the 28-nation EU are... →

Adjudicator says any security defence of US auto tariffs at WTO 'very difficult'

By: Reuters 28th May 2019 The US will find it "very difficult" to defend President's Donald Trump's proposed car tariff against any challenge at the World Trade Organization (WTO), a veteran trade adjudicator who has ruled on a related case told Reuters. Trump said this month that some imported vehicles and parts pose a... →

Davies sees rising unilateralism as trade war escalates

By: African News Agency 24th May 2019 South Africa, like the rest of the global economy, will continue to be collateral damage in the escalating trade war between China and the US, Trade and Industry Minister Dr Rob Davies has said, predicting a worrying rise in unilateral actions by individual states. Davies cast doubt on the World... →

Denel announces last phase of offset programme for Malaysia

By: Rebecca Campbell 24th May 2019 South Africa’s State-owned defence industrial group Denel has announced that it has launched its tenth and last offset project for Malaysia, being provided in return for the South East Asian country’s order for armoured vehicle gun turrets and integrated weapons systems for armoured fighting... →

Load-shedding’s impact on first-quarter GDP ‘more muted’ than thought – Intellidex

By: Simone Liedtke 17th May 2019 Based off high-frequency data, the impact of record load-shedding during the first quarter of this year is “more muted than previous estimates would suggest”, financial consultant Intellidex said on Friday. The company explained that it could account for about R300-million per stage per day so... →

SA business delegation heads to Uganda to explore trade and investment opportunities

By: African News Agency 17th May 2019 A group of 25 South African business people were in high spirits ahead of their departure to Kampala, Uganda, to explore trade and investment opportunities in the agro-processing, capital equipment, energy and furniture sectors in the East African country. This is according to the Department of... →

Local expo to showcase South Africa’s manufacturing capabilities

By: Simone Liedtke 17th May 2019 Determined to broaden the inclusion of local manufacturers in local and international supply chains, the South African Capital Equipment Export Council has partnered with Specialised Exhibitions Montgomery to launch the Local Southern African Manufacturing Expo, which has, so far, received over 3... →

South African Capital Equipment Export Council CEO Eric Bruggeman

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