Share

Davies: SA at root of US, Africa trade

Washington - South Africa has been at the centre of exploring trade opportunities between the United States and Africa, Trade and Industry Minister Rob Davies said on Thursday.

"We've been the root of exploring the free trade area with the US... and that is a point which is important," he told Sapa in Washington.

"When we talk about any trade negotiations they involve not just South Africa... they involve least developed countries, [and] small vulnerable economies."

Davies was part of the South African delegation attending a inter-ministerial Africa Growth and Opportunities Act (Agoa) meeting and the US-Africa Leadership Summit.

He arrived in Washington on Thursday.

Agoa was a non-reciprocal preferential scheme, which applied only to United States imports from eligible sub-Saharan Africa countries, including South Africa.

It was signed into law on May 18, 2000.

During the summit in Washington, South Africa will have to argue why it should remain in the Agoa and advocate for the renewal of the act.

Earlier this week, Davies said South Africa wanted the US Congress, who will make the decision regarding the Agoa, to renew it for another 15 years, as this would help investor confidence.

Davies said the country had a strong case despite some believing it did not. "There's a hearing for it in important circles of the United States.

"But there are a couple of voices here and there that are complaining about this or that and saying we should be phased out," he said.

During the visit to the US capital the South African delegation, led by President Jacob Zuma, would meet with members of the US Congress, the administration and business.

Davies could not say whether the five-month long strike on the North West platinum belt or the more recent four week metals and engineering strike would have an effect on investor confidence.

"We'll have to see, sometimes they are concerned. We've had one extraordinary strike, which is the strike in the platinum sector. Not every strike is like that."

Davies said more value needed to be added to platinum as a product.

His department was currently involved with provinces on two platinum based beneficiation processes which would add value. This was in the form of jewellery, automotive catalytic converters and fuel cell technology.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.07
+0.5%
Rand - Pound
23.60
+1.0%
Rand - Euro
20.32
+0.3%
Rand - Aus dollar
12.24
+0.5%
Rand - Yen
0.12
+0.4%
Platinum
943.20
-0.8%
Palladium
1,035.50
+0.6%
Gold
2,388.72
+0.4%
Silver
28.63
+1.4%
Brent Crude
87.11
-0.2%
Top 40
67,314
+0.2%
All Share
73,364
+0.1%
Resource 10
63,285
-0.0%
Industrial 25
98,701
+0.3%
Financial 15
15,499
+0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders