SA committed to signing African Continental Free Trade Area
President Cyril Ramaphosa says South Africa will become a signatory to the African Union’s agreement on the African Continental Free Trade Area (AfCFTA). The Presidency said South Africa held off on signing the actual agreement until legal and other instruments associated with AfCFTA are processed and ratified by South... Read more
Reserve Bank launches SAFXC forum
The Reserve Bank on Tuesday announced the establishment of the South African Foreign Exchange Committee (SAFXC) that seeks to guide and encourage market participants to adhere to the FX Global Code. The SAFXC is a forum consisting of key professionals and associations in the domestic wholesale foreign exchange (FX)... Read more
SA scrutinises US aluminium, steel tariffs
The South African government is studying United States President Donald Trump’s proclamation to impose a 10% tariff on aluminium and 25% tariff on steel articles, and its implications for South African exports. The Department of Trade and Industry (dti) says it has taken note of the 8 March proclamations... Read more
Free Trade deal to turn Africa’s fortunes around
An agreement establishing the African Continental Free Trade Area (AfCFTA) which is envisaged to offer opportunities to create large economies of scale has been reached, said the Department of Trade and Industry. Trade and Industry Minister Rob Davies and his Deputy Bulelani Magwanishe attended the recent African Union Ministers... Read more
President Ramaphosa meets DIRCO
President Cyril Ramaphosa has urged the Department of International Relations and Cooperation (DIRCO) to use its diplomatic presence in the world to attract investment and facilitate greater volumes of trade. President Ramaphosa also underscored the significance of DIRCO “as the face and mirror of our country”. The President said... Read more
SA to engage US on steel, aluminium tariffs
The Department of Trade and Industry is engaging the United States on its decision to impose a global tariff of 25% on imports of steel and of 10% on imports of aluminium. “The Department of Trade and Industry (dti) is fully engaged with the matter and has undertaken discussions... Read more
Black industrialists to participate in trade mission to Mozambique
The Department of Trade and Industry (the dti) has invited black industrialists to apply for participation in the trade mission to Mozambique. The trade mission, which will take place from 5 – 9 March 2018, is part of the implementation of the Black Industrialists Programme (BIP). The programme is... Read more
SA, Senegal rev up business connections
President Jacob Zuma says the South Africa-Senegal Business Forum must actively seize the opportunities created by the bilateral relations between the two countries, to increase trade opportunities. The President was addressing the forum on Tuesday, which met in Cape Town to discuss efforts to increase trade and investment between... Read more
Trade contributes to 15% of GDP
Statistics South Africa (StatsSA) has revealed that not only did the trade industry contribute to 15% of South Africa’s 2015 GDP, but it is also the biggest employer in the formal business sector. A report released on Thursday by StatsSA shows that the trade industry contributed to 22% of... Read more
SA, Russia seek sustainable growth for platinum sector
Mineral Resources Minister Mosebenzi Zwane has called on South Africa and Russia to work together to look at ways of ensuring demand sustainability in the platinum group metals industry in the face of falling commodity prices. “Being the two largest producers of these metals, in particular, platinum and palladium,... Read more