/ MEDIA STATEMENT / The content on this page is not written by Polity.org.za, but is supplied by third parties. This content does not constitute news reporting by Polity.org.za.

South African companies where encouraged to work together with their French counterparts in order to ensure the industrialisation not only of South Africa, but the African continent in general. The Minister of Trade and Industry Dr Rob Davies together with his counterpart, Minister of Foreign Trade in France Ms Nicole Bricq addressed the Business Forum today, which was attended by the businesspeople from both countries.

The Business Forum took place along the side-lines of the State visit by the President of France, President Francois Hollande to South Africa.

According to Minister Davies although France is among South Africa’s top five partners in the European Union (EU), and among the top ten trading partners, a lot of work needs to be done to recover the trade relations that the two countries shared before the global economic crisis.  


Minister Davies said that there were significant and sizable trade and investment relations, and what needs to be improved are partnerships between the two countries in industrialisation. He added that the African continent was recognised as one of the growing frontiers in the world and that the African region needed to integrate.


“One of the priorities should be regional integration because as a continent we are divided into many smaller markets. It is important to generate a market for industrialisation to address the real economic issues that make it hard for industrialisation – one of which is infrastructure,” said Davies.


Davies announced that South Africa was engaged in a massive infrastructure programme, and that SADC also has infrastructure programmes which should be the basis for industrialisation.


The Minister of Foreign Trade in the Republic of France, Ms Nicole Bricq said she welcomed South Africa’s modernisation of investment protection and believed that no one needed to be concerned by it. She added that the French companies based in South Africa understand South Africa’s commitment to redress the inequalities of the past and respect the regulations of the country.


According to Bricq, foreign trade can be enhanced by better knowledge of each other. She said she was glad that the French companies based in South Africa have been able to respond to the needs of South African citizens.


“Many South African companies export goods from France, which boosts exports for our country. South African companies should also be encouraged to invest in France, in order to restore balance in trade with the EU. If South African companies come, this will reduce the deficit and increase employment – which is a common concern for both countries,” she added.  


During the bilateral meeting also held on the side-line of the SA-France Business Forum, the two Ministers exchanged views on the current state of the SADC Group-EU Economic Partnership Agreement, (EPA).


The two Ministers agreed to revive the Joint Economic Committee (JEC) between South Africa and France. The aim of the Joint Economic Committee which was established in 1995 is to promote and strengthen trade and industrial co-operation in the respective economies. The JEC provides a structured and predictable framework for evolving complementarities into high value added trade investment sectors.