President Mbeki to be briefed of the Multi-Million Dollar deal to boost BEE in South Africa

New York- South African President Thabo Mbeki will, later today, Friday 16 September be briefed of the intention of the New York Common Retirement Fund to increase its current levels of investment in South Africa to boost Black Economic Empowerment.

Details of the multi-million dollar deal will be unveiled at a press conference to be held today, Friday, by the New York Comptroller, Alan Hevesi. The investment adds to the momentum of confidence in South Africa as an investment destination.

President Mbeki is leading the South African Government delegation to the 60th Session of the UN General Assembly and the Millennium Review Summit currently underway in New York. President Mbeki is accompanied by his spouse, Mrs Zanele Mbeki and supported by Minister of Foreign Affairs, Dr. Nkosazana Dlamini Zuma and senior Government officials including Foreign Affairs Director-General Dr. Ayanda Ntsaluba.

As part of global efforts to push back the frontiers of poverty and under-development, President Mbeki, accompanied by Mrs Zanele Mbeki and supported by Ministers Dlamini Zuma and Dr Zola Skweyiya will represent South Africa at the Inaugural meeting of the Clinton Global Initiative on "The Escape from Poverty: Forging a New Partnership between the Developed and Developing World.

In this context, President Mbeki will join Dr. Javier Solana, the EU'High Representative for the Commission on Foreign and Security Policy in a discussion on " The Critical Moment in the fight against poverty: The fundamentals of a new deal"

Friday, will also usher a series o bilateral discussions for President Mbeki, with amongst others, Israeli Prime Minister Ariel Sharon, President Yoweri Museveni of Uganda, Prime Minister Cellou Diallo of Guinea and Dr. Supachai Panitchpakdi, Secretary-General of UNCTAD. The meeting with Israeli Prime Minister, follows Thursday's bilateral discussions with Palestinian Foreign Minister, Nasser Al-Kidwa.

On the other hand, Minister Dlamini Zuma will hold a series of bilateral discussions with her Nigerian, French and Belgian counterparts, attend the Commonwealth Ministerial Group on Guyana and the India-Brazil-South Africa (IBSA) working meeting. The IBSA Ministerial meeting follows on the IBSA Heads of State and Government trilateral forum held on Wednesday. In addition, Minister Dlamini Zuma will participate in the Round-Table meeting on the International Conference on the Great Lakes Region.

Issued by Ronnie Mamoepa at +27-82-990-4653
C/O South African Mission
New York
16 September 2005