Germany’s Foreign Affairs Minister Guido Westerwelle, has revealed that the European nation is ready to deepen its economic investment ties in Africa.
Westerwelle, who said this after a meeting with South African counterpart Maite Nkoana-Mashabane, said: ”This is a strategic decision of the government in Germany to seek new opportunities in Africa, especially in South Africa. We think Africa is a continent of opportunities.”
“We need investments. We need to trade and establish partnerships between equals. We need partnerships in skills development, vocational training, education and science.”
The minister who led a German delegation visited Ghana the previous week before coming to South Africa. They will be heading to Mozambique from South Africa.
Westerwelle listed South Africa as his country’s “most important economic and political partner” on the continent; adding that Germany was South Africa’s third largest trading partner, its second largest investor and its third-largest tourism market.
“South Africa is also an important partner to us in world politics. We followed with close attention the Brics (Brazil, Russia, India, China and South Africa) summit you hosted in March. It shows how the world is changing and there are new heavyweights like South Africa and we are seeking close co-operation.”
Germany’s FDI volumes into South Africa’s automotive, chemicals and mechanical and electrical engineering industries alone, besides others, reached R37.66 billion ($4 billion) between 2003 and 2012.
South African exports to Germany reached R37.9 billion ($4 billion) in 2012, while imports from Germany increased from R77.6 billion ($86.5 billion) in 2011 to R83.9 billion ($9.35 billion) in 2012.
“Last year, our trade was around 14 billion Euros [$18.3 billion] and over 600 German companies provide over 90,000 jobs in South Africa,” Westerwelle said.
Source :ventures-africa.com
