SA engages German business

Friday, August 2, 2019

Trade and Industry Minister Ebrahim Patel has held engagements with German companies based in South Africa.

German Ambassador to South Africa, Dr Martin Schäfer, hosted the Minister in Pretoria on Wednesday in a session that allowed the Minister to engage German business people as well as representatives of the German-Southern African Chamber of Commerce and Industry.

The engagement focused on the economic ties between Germany and South Africa, and the opportunities to work together in fostering deeper, more inclusive growth.

“Our economic and cultural relationship with Germany is important for South Africa. German-owned companies have played an important role in helping to develop key industries like the automotive industry. In fact, cars assembled in South Africa, many of them by German marques, represent our largest export to Germany. Open and constructive discussions like this give us an opportunity to develop ways to deepen this relationship so that we can expand our markets and create real, inclusive growth and jobs,” said Patel.

In 2018, Germany and South Africa traded R215 billion worth of merchandise, representing one of the most important trading relationships for South Africa.

Exports of South African goods to Germany has more than doubled since 2014, and the trade gap between the two countries continues to narrow. It is estimated that the more than 400 companies established by German investors has created approximately 100 000 direct jobs in South Africa.

Ambassador Schäfer said trade ties between Germany and South Africa are strong.

“German companies from large car manufacturers to specialized engineering firms are active players in South Africa. They are not only here to make a quick buck. They strive to contribute to the social transformation of South Africa by creating jobs, by investing in training, local value chains and economic transformation, by being responsible corporate citizens,” he said.

He added that Germany is looking forward to building on the strong partnerships and expanding cooperation in crucial fields such as vocational training to help build sustainable, inclusive growth in South Africa. –