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The 4th session of the Slovak –SA Joint Council for Economic Cooperation is being held in Bratislava, Slovak Republic. The purpose of the Slovak Republic – South Africa is to promote and strengthen trade, investment and economic cooperation between the two countries. The Deputy Minister is accompanied by the dti officials, as well as a business delegation. The primary objective of the visit is to strengthen commercial and economic relations between the two countries.

Speaking at the meeting, Thabethe said that South Africa consider the work of the Joint Council to be vital.

‘Such meetings offer our two governments an opportunity to contemplate our economic and trade relations and consider ways through which these can be enriched and deepened. Thus we believe the work of this Joint Council is important in formulating the direction that our economic and trade relations should take. At the same time, we would hope that such initiatives help to build a strong basis for facilitating bilateral trade and investment between our countries’ she said.

Thabethe added that trade between South Africa and Slovakia had been consistently over the years. She said that trade between the two countries poses a challenge for SA as it is in favour of Slovakia.

‘Firstly, the trade balance has been heavenly skewed in favour of Slovakia. This poses a challenge for South Africa to exert more efforts in importing its products in the Slovak market. Secondly, we find the pattern of trade to be attractive in the sense that relative to our exports with other trading partners, exports to Slovakia tends to have a higher proportion of value added item’,

At the 3rd Session of the Joint Council for Economic Cooperation, the following sectors were identified wherein bilateral trade co-operation should be developed:
Medical – pharmaceutical, Infrastructure, Energy, ICT, Tourism, Glass Industry, Fresh and process food – wines.

Meanwhile, Deputy Minister Thabethe also addressed the Slovak–SA Business forum that was held on the side-line of the Joint Council for Economic Cooperation. She told business people that South Africa has identified infrastructure development as key to our sustainable economic development and industrialisation. According to her the infrastructure initiatives present opportunities for cooperation between South African and Slovak Republic.