Deputy Minister Aziz Pahad has Arrived in South Korea, 20 September 2005

Tshwane - South African Deputy Foreign Minister Aziz Pahad has today, Tuesday 20 September 2005, arrived in the Republic of Korea (South Korea) ahead of a three-nation visit that will see him visit China and North Korea respectively. The visit to central and east Asia is scheduled from Tuesday - Wednesday, 20 - 28 September 2005.

The visit comes within the context of South Africa's commitment to consolidate bilateral relations with all countries of the South in an attempt to create the conditions for the development agenda of the South to be achieved.

Deputy Minister Pahad will hold bilateral political and economic discussions with his counterpart, Vice Minister Lee, Tae-sik on Wednesday, 21 September 2005.

Issues on the agenda of discussions are expected to include, among others:

  • The status of bilateral political and economic relations;
  • Developments in the region;
  • A briefing by Deputy Minister Pahad on developments in Africa and the SADC region; and
  • Other issues of mutual interest.

Economic Bilateral Relations

Bilateral economic trade relations between South Africa and South Korea have been increasing yearly with Seoul presently being South Africa's fourth largest trading partner in Asia. South Africa is Korea's largest trading partner in Africa.

In this regard, total trade amounted to US$ 1,1 billion US dollars in 2003.

Trade between South Africa and Korea is of a complementary nature and encompasses a broad range of products, minerals and semi-finished products to sophisticated high-technology electric and electronic products. South Africa is a large supplier of bulk raw materials and semi-processed minerals and metals essential for numerous production processes in Korea such as gold, coal, ferro-chromium, ferro-manganese, iron ore, stainless steel, lead, copper, nickel and zinc.

South Korean exports to South Africa are predominantly made up of value-added or manufactured products. Products such as automobiles, auto tires, woven fabrics, apparel as well as industrial electronic and consumer electronic goods are increasingly making inroads into the South African market.

Nine Koran conglomerates have established branch offices in South Africa, including Samsung, Hyundai, Daewoo and LG International. The Korea Trade Promotion Corporation (KOTRA) established an office in Johannesburg during June 1992.

Trade Statistics Between RSA and ROK

 
2002
2003
2004
SA Exports
R5,539,213
R4,367,342
R4,535,578
SA Imports
R4,498,573
R4,184,035
R6,492,796
Trade Balance
R1,040,640
R183,307
R-1,957,218

Deputy Minister Pahad will depart from Seoul for Beijing, China on Thursday, 22 September 2005.

Issued by Ronnie Mamoepa on 082 990 4853

Department of Foreign Affairs
Private Bag X152
Tshwane
0001

20 September 2005

Quick Links

Disclaimer | Contact Us | HomeLast Updated: 21 September, 2005 2:44 PM
This site is best viewed using 800 x 600 resolution with Internet Explorer 5.0, Netscape Communicator 4.5 or higher.
2003 Department of Foreign Affairs, Republic of South Africa