Media Statement

15 October 2014

Deputy Minister Mfeketo to undertake Working Visit to the Republic of Korea

International Relations and Cooperation Deputy Minister Nomaindiya Mfeketo will co-chair the 8th Policy Consultative Forum together with His Excellency LEE Kyung-soo, Deputy Minister for Political Affairs of the Republic of Korea, on 17 October 2014, in Seoul, Korea.

South Africa’s participation in the Policy Consultative Forum will be informed by its national interests and priorities, its regional and continental commitments, as well as its aspirations for a prosperous world at peace with itself. In addition, South Africa will demonstrate a clear commitment to strengthen its friendship and cooperation through the frequent exchanges of visits and business delegations.

In building a strong mixed economy, South Africa needs foreign partnerships. Trade, investment and skills development form the backbone of relations between South Africa and the Republic of Korea, a high-technology country which makes it an attractive partner for South Africa.

During the Policy Consultative Forum, Deputy Minister Mfeketo will convey the priorities of the Government of South Africa as outlined in the National Development Plan (NDP), South Africa’s roadmap to eliminate poverty and reduce inequality by 2030. The NDP also provides a strong platform for collaboration and partnership to address constraints to growth, create jobs and achieve a more inclusive society.

South Africa and the ROK share similar views on the importance of multilateralism. The Republic of Korea provides ongoing support for the continued development of the African continent through the Korea-Africa Forum, the previous forum was held on 3rd Korea-Africa was held on 17 October 2012. The next Korea-Africa Forum is scheduled for 2015.

Korea is South Africa's 4th largest trading partner in Asia and South Africa is Korea’s largest trading partner in Africa. Korea enjoyed a favourable trade balance with South Africa in 2013 – approximately R6.1 billion. Total trade in 2013 was R30.2 billion, with South African exports to Korea in the region of R12.1, and South African imports from Korea in the region of R18.1 billion

Enquiries: Mr Clayson Monyela, 082 884 5974

ISSUED BY THE DEPARTMENT OF INTERNATIONAL RELATIONS AND COOPERATION

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