Norway urged to invest in energy for Africa

Friday, September 2, 2011

Pretoria - President Jacob Zuma says Norway can play a major role in investing in Africa's energy security, the green economy and climate change. 

Speaking at a business forum in Oslo, Zuma said such investments would lead to a cleaner environment and sustainable economic development of the African continent. 

"Norway has the capacity and resources to make a significant contribution to the green economy including renewable energy, parts and equipment for technology. 

"South Africa would welcome such investment and would like to partner Norwegian companies to work on the continent in the green economy," he said. 

Since international trade was a key tool of boosting economic growth and job creation, the government was encouraged by the progress in trade relations with Norway.

Zuma, accompanied by several Cabinet ministers, was in Norway for an official visit this week and was with King Harald V and the Queen. 

South Africa's trade with Norway has increased significantly over the past five years, doubling from R963 million in 2006, to more than R3 billion in 2010. 

This growth was driven by a major increase in South African exports to Norway, and South Africa becoming a net exporter to Norway in 2007. 

Zuma indicated that South African companies would like to partner with Norwegian companies in the oil and gas, environment and marine technology, innovation and knowledge based industries. 

South Africa and Norway should also co-operate on climate issues ahead of the COP 17 summit in Durban later this year. - BuaNews 

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