Minister Parks Tau strengthens economic ties between South Africa and Czechia

The Minister of Trade, Industry and Competition (the dtic), Mr. Parks Tau, in collaboration with the Deputy Prime Minister of the Czech Republic, Mr. Marian Jurečka, officially opened the South Africa-Czech Republic Business Forum held in Pretoria. The Forum convened businesses from both nations and included business- to-business engagements, aimed at fostering bilateral trade and investment relations.

The Czech Republic is South Africa’s largest export market in Central and Eastern Europe, while South Africa serves as Czechia’s primary trade partner in Africa, representing a gateway for South African businesses into the European market. There is notable investment activity between the two countries, with Czech companies operating in South Africa across sectors such as electronic components, textiles, energy, and tourism. Similarly, South African businesses have established a presence in the Czech Republic in industries such as food processing, information technology, logistics, and manufacturing.

Minister Tau highlighted the untapped trade potential between the two nations, underscoring the need to strengthen two-way trade in value-added products. He called for greater collaboration in renewable energy, decarbonizing value chains, and advancing the manufacturing of batteries and electric vehicles. South Africa’s wealth of critical minerals, coupled with Czechia’s expertise in EV design and production technologies, positions both countries to capitalize on emerging opportunities in these areas.

The Deputy Prime Minister of the Czech Republic, Mr. Jurečka, reaffirmed the importance of South Africa as Czechia’s largest trading partner in Africa, accounting for nearly one-third of the country's trade with the continent. He identified sectors such as health and medical devices, energy, agriculture, and digitalization as priority areas for potential cooperation.

The Business Forum followed the fifth session of the South Africa-Czech Republic Joint Committee on Economic Cooperation (JCEC). Co-chaired by Deputy Minister Whitfield and Mr. David Müller, Director General of the Section of European Union and Foreign Trade of the Ministry of Industry and Trade of the Czech Republic, the JCEC agreed to develop an implementation plan for cooperation in various sectors. These include technology, decarbonisation, automotive, mining, pharmaceuticals, medical devices, and strengthening cooperation between InvestSA and CzechInvest.

Recent data from SARS indicated that in 2023, South Africa’s exports to Czechia totaled R8 billion, while imports amounted to R13 billion. Two-way investment between the nations was estimated at US$734.81 million.

Minister Tau welcomed the recent investments by Czech companies in South Africa, particularly in the energy and boatbuilding sectors, and reaffirmed South Africa's commitment to deepening economic ties with the Czech Republic.

Media enquiries:

Yamkela Fanisi – Ministerial Spokesperson Department of Trade, Industry and Competition 
E-mail: YFanisi@thedtic.gov.za
Mobile: 076 034 6551

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