Trade has skyrocketed: Mashabane

2013-06-15 22:24
International Relations and Co-operation Minister Maite Nkoana-Mashabane. (File, AFP)

International Relations and Co-operation Minister Maite Nkoana-Mashabane. (File, AFP)

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Hameenlinna - Trade and investment in South Africa has "skyrocketed" in the past two years, International Relations Minister Maite Nkoana-Mashabane said in Finland on Saturday.

"Trade between us and China surpassed R200bn in less than two years," she said on the sidelines of the Nordic-African foreign ministers meeting.

Russia's trade with South Africa was also going extremely well.

On its website, Russia's embassy in South Africa, says bilateral trade in 2012 increased by 66.3% compared to 2011. In January this year, bilateral trade went up by 17.8 percent.

The embassy says the mutual investments were "massive".

"Russian investments in South Africa reached over $1bn and South African investments in Russia reached over $75m," the website said.

Mashabane said one major defence co-operation agreement was the decision to refurbish all Russian-made helicopters operating in Africa.

The deal was agreed to earlier this year with Denel Aviation.

Mashabane said Russian made helicopters would be refurbished in South Africa, and this was great for job creation.

It was also good for the training of artisans, and the sourcing of spare parts from South Africa.

Read more on:    maite nkoana-mashabane  |  economy

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