SA/EU summit in Pretoria to focus on jobs, investment

18th July 2013 By: Keith Campbell - Creamer Media Senior Deputy Editor

SA/EU summit in Pretoria to focus on jobs, investment

European Commission President Jose Manuel Barroso

The sixth South Africa/European Union (EU) summit was formally convened in Pretoria on Thursday.

"We are happy to meet within the context of our South Africa/EU strategic partnership, with the purpose of strengthening our trade and investment ties," observed South African President Jacob Zuma in his opening remarks. "The South Africa/EU relationship is strategic and very important for South Africa."

Zuma noted that trade between the two sides had increased by 8% in 2012. "The [European] Union has maintained its lead as South Africa's most important regional trading partner." He added that the bloc was also South Africa's main source of foreign investment and that the summit's focus on investment and job creation was appropriate for both sides. "We are looking forward to a highly productive meeting."

"The EU is South Africa's main trade partner and main source of foreign direct investment and we are determined to maintain this position," affirmed European Commission President Jose Manuel Barroso in his opening remarks. He pointed to the Trade and Development Cooperation Agreement between the two sides as the cement in the bilateral strategic relationship. He also expressed the hope that the Economic Partnership Agreement being negotiated between the EU and the Southern African Development Community would be completed soon.

Barroso agreed that creating jobs and achieving economic growth were challenges for both sides. "In Europe, we see the light at the end of the tunnel. The recovery is under way." But he warned against complacency and asserted that the reform processes in European countries must continue.

Zuma also referred to the summit strengthening political cooperation between the two sides. European Council President Herman van Rompuy echoed this in his opening remarks. "We look forward to discussing with you today some of the issues that concern the international community today, including the Middle East and the Sahel," he said.