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17 March 2009

Washington: South African Foreign Minister, Dr Nkosazana Dlamini Zuma will on Thursday, 19 March, hold bilateral political, economic and trade discussions with the US Secretary of State Hillary Clinton in Washington, USA.

Minister Dlamini Zuma will hold discussions with Secretary of State Clinton within the context of consolidating existing strategic bilateral relations between South African and the United States of America. This visit takes place within the context of strengthening bilateral relations with the new US Administration.

Bilateral economic relations

Bilateral relations between South Africa and the United States of America remain strong and are considered to be of a strategic nature. Since 1994, business, civilian and governmental links with the USA have expanded exponentially and a strong, long-term SA-US working partnership has been established. The importance of the US to South Africa's national and international interests can be seen in the United States of America's full support of South Africa's domestic objectives such as fostering economic growth, overcoming poverty and social imbalances, increasing the skills base and promotion of trade.

The United States of America is one of South Africa's leading trading partners. The country ranks first as a destination for South African exports and is third below Germany and China as a source of imports. Exports to the USA increased in nominal terms from R30 billion in 2004 to R41 billion in 2006, while imports recorded an increase from R26 billion to R35 billion for the same period.

The United States is the largest portfolio investor and the second largest source of foreign direct investment (FDI) in South Africa, after the United Kingdom (Total US FDI is $6,6 billion with total portfolio investment in South Africa at the end of 2007 amounting to $ 51,6 billion).

Enquiries:
Ronnie Mamoepa
Cell: 082 990 4853

Issued by: Department of Foreign Affairs
17 March 2009