French finance minister to visit
FRENCH Economy and Finance Minister Michel Sapin is headed to South Africa‚ with meetings scheduled with Finance Minister Pravin Gordhan.
The French embassy in Pretoria said Sapin would arrive tomorrow at about 11am and depart again on Friday afternoon.
Sapin is also due to meet Small Business Development Minister Lindiwe Zulu‚ South African enterprises‚ French firms based in South Africa and people in business.
He is due to visit Schneider Electric‚ L’Oreal’s new Research and Development Centre in Johannesburg and Airbus Helicopter at the Grand Central Airport in Gauteng.
France is one of South Africa’s major trade partners – with 366 French companies in South Africa‚ employing about 37 000 South Africans.
A total of 69% of these are based in Gauteng.
South African French press attache Lali van Zuydam said France’s investments in the country were diversified in the industrial sector in energy‚ transport‚ aeronautics‚ pharmaceuticals, fuel and chemicals‚ electric equipment and mining.
France also has vehicle suppliers and manufacturers – Renault‚ PSA Group‚ Faurecia and Michelin – and construction material manufacturers – Lafarge and Saint Gobain – operating in South Africa.
In turn, South Africa has 20 companies in France‚ employing 15 000 French people.
Steinhoff bought furnishings retail chain Conforama in 2011 and has 14 000 employees.
The second-largest investor is Aspen Pharmaceuticals, with about 1 000 employees.
The other investors have fewer than 100 employees.
Most South African companies present in Europe have invested in the UK.
The imminent “Brexit” is an opportunity to change this and showcase the numerous trade and investment opportunities France has to offer.
“France and South Africa have had a strategic partnership since 1994‚” Van Zuydam said. – TMG Digital