TRADE AND INVESTMENT MISSION TO SOUTH AFRICA BY MR. M VAILE, AUSTRALIAN MINISTER OF TRADE

23 October 2000

The Australian Minister of Trade, Mr. Mark Vaile arrived in South Africa today, leading a high profile business delegation on an official trade and investment mission to South Africa from 23rd -25th October 2000.

During this visit, the South Africa-Australia Joint Ministerial Commission will hold its third session to be chaired by Minister Vaile and South African Trade and Industry Minister Alec Erwin on 24th October 2000. The JMC is an intergovernmental forum for dialogue on a range of matters of economic co-operation between the two countries in the areas of trade, industry and investment among others.

As part of the Joint Ministerial Commission, South Africa's Department of Trade and Industry will host a Business Forum on the 24th October 2000 at which South African businesses will have an opportunity to network with their Australian counterparts in the following sectors identified as having major potential for business links:

• Infrastructure development (railways)
• Stainless steel and specialised steel fabrication
• Services (information technology, tourism and education)
• Agribusiness (wine, fisheries)
• Capital equipment (engineering & building supply)

Selected business representatives attending the Forum will be nominated to lead sectoral presentations and discussions covering the following:

• Current status and development capacity of the sector
• Future projections
• Export/Import potential
• Specific projects that are ready for investments
• Specific ivestment proposals of Joint Ventures
• Any other relevant issues

The JMC and Business Forum on 24 October 2000 will be held from 08h30 - 16h00 at the CSIR Conference Centre Meiring Naude Road Brumeria Pretoria.

Australia, like South Africa is rich in natural resources and is a major exporter of agricultural products, minerals, metals and fossil fuels. With commodities accounting for about 57% of total exports, Australia is now pushing for increased exports of manufactured products in order to mitigate their vulnerability to a fall in world commodity prices. Nevertheless, Australia has witnessed an extended period of economic expansion, strong productivity growth and low inflation. Over the past eight years growth and inflation have averaged 4.5% and 2% respectively, compared to the twenty-year average of 3.5 percent and 9% respectively.

FOR MORE INFORMATION, PLEASE CONTACT BASETSANA THOKOANE
OFFICE NO. (012) 351 0174
CELL NO. 083 443 7740
Issued by: Department of Foreign Affairs
PRIVATE BAG X152
Pretoria
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