Investment in African Agenda tops SA, Sweden meeting

The Department of Foreign Affairs on Monday confirmed that the meeting was also the first engagement between the two governmental leaders and that the meeting was held in a “meet-and-greet” environment.

Swedish economic support

“The meeting on Monday will seek to achieve Swedish support of the African Agenda and to promote economic relations, with special emphasis on investment,” the department said.

The Swedish deputy prime minister, who has been in South Africa on a private holiday in Gauteng and the Western Cape, requested the meeting with Ms Mbete to establish contact as they are the co-chairs of the South African-Swedish Bi-National Commission (BNC).

Heading up EU

Sweden will also be a very strategic partner for South Africa as the Nordic country will be taking the helm of the European Union (EU) in July 2009 when the Czech Republic's term ends.

Relations between South Africa and Sweden date back centuries as Sweden and other Nordic countries provided crucial support in the anti-apartheid struggle.

Development cooperation

Since 1994, development cooperation was given on a government-to-government basis with far over a billion rand being allocated over the past fourteen years, covering a range of support to central, provincial and local authorities as well as Non-Governmental Organisations (NGOs).

“The Swedish government has made it a priority commitment to build up a partnership with South Africa as part of the Swedish Government's Africa policy.

“Sweden has also indicated that it will be transforming its development cooperation relations with South Africa, with a greater emphasis in future on a partnership with South Africa in joint trilateral projects regionally in Africa,” the department said.

The South Africa-Sweden BNC was established in 2000 and has since its inception met in 2001, 2003, 2005 and 2007.

The next meeting has been postponed to early 2010 due to Sweden's Presidency of the EU in the latter half of 2009.

Current trade

Existing trade between South Africa and Sweden remains heavily in favour of Sweden with over R10 billion in goods imported from Sweden between January and September 2008, up from R2.9 billion in 2000.

South Africa's exports to Sweden totalled R2.7 billion between January and September 2009, having increased from just over R1 billion in 2000.

The main trade sectors, both in imports and exports, include manufactured goods, machinery, automotive and transport goods, mining equipment and chemicals & fuel products.

Article published courtesy of BuaNews