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Deputy Minister Pahad to pay Official Visit to Greece, 27 January
- 1 February 2006 Tshwane - South African Deputy Foreign Minister Aziz Pahad
will pay an official visit to Athens, Greece from Friday- Wednesday, 27 January-
1 February 2006 during which he will hold bilateral political and economic discussions
with his counterpart, Evripidis Stylianidis on Monday, 30 January 2006. With
Greece being a member of the European Union and a non-permanent member of the
United Nations Security Council 2005 - 2006, the visit by Deputy Minister Pahad
is intended to strengthen political, economic and cultural relations between the
two countries with a view to consolidating the developmental agenda of the South
in general and Africa in particular. South Africa and Greece also have
strong cultural ties through the Hellenic community in South Africa many of whom
are playing a positive and constructive role in the reconstruction and development
in South Africa. Issues on the agenda of discussions are likely to include,
among others: - The consolidation of bilateral political and economic
relations between both countries;
- European Union (EU) - Africa discussions;
- A briefing by Deputy Minister Pahad on the recently concluded African
Union Summit;
- South Africa's involvement in peacekeeping and post-conflict
resolution, management and reconstruction in Africa;
- Developments in
the Mediterranean region including the issue of Cyprus; and
- The comprehensive
reform of the United Nations.
While in Greece Deputy Minister Pahad
will also: - present a lecture arranged by the South African Embassy
and the Hellenic Foundation for European and Foreign Policy entitled "South
Africa's involvement in peace-keeping and post-conflict resolution,"
- address
the Hellenic-African Chamber of Commerce and Development,
- attend the
Socialist International Conference and hold discussions with other role-players
in the Hellenic Community.
Bilateral Economic Relations - Two
way trade between South Africa and Greece, despite its gradual increase still
has room for improvement. During 2003, South Africa's imports from Greece were
valued at R106,390 million, while South Africa's exports to Greece were valued
at R435,811 milllion.
- Greece was the 12th largest investor to South Africa
for the period 1999-2002 with investments amounting to approximately R1,6 billion.
- Foreign direct investment from Greece to South Africa is estimated at
US$350 million. Such investments appear to be primarily targeted at financial
services, shipping, foodstuff, manufactured products and commerce.
Hellenic
Investments in South Africa - Palace S.A. (K. Filippou Group)
The
Greek company entered the South African market in 1998 through a buy out of a
South African ice cream manufacturer. The initial investment amounted to approximately
US$300m. - National Bank of Greece S.A.
Greece's largest
bank has for a number of years being present in the South African banking sector
with its subsidiary, the Bank of Athens, featuring a number of branches in major
South African cities. Frigoglass falls
under the group of 3E, the Greek Coca-Cola bottler. They manufacture commercial
refrigerators and freezers. The Greek group through Frigoglass bought, for approximately
US$8m (8,35 Euros), Husky of South Africa, which is the manufacturer of coolers
and refrigerators, owned by Coca-Cola Company of South Africa. Husky holds a 75%
share of the regional market that includes South Africa, Botswana, Angola, Namibia,
Mozambique, Zambia and Malawi. The Greek Coca-Cola bottler through mergers and
acquisitions in Central Europe and the UK is now the second largest bottler of
Coca-Cola outside USA. This is
a London-based Greek group of companies producing wood chemicals and 2001 have
been operating fully in South Africa. The project is estimated to US$10m and operates
under the name of Woodchem South Africa and produces glues and formal deydic products
in Piet Retief. A leading producer and franchiser
of consumer batteries and accessories for mobile telephony. They have established
a daughter company owned equally by 50% with South African entrepreneurs. Their
initial investment amounts to US$500 000 and is expected to rise to US$2m. The
company has also entered into a brand name agreement with MTN (the South African
cellular telephone provider for the placement of the MTN Sunlight batteries in
the South African market. Petzetakis
Group is the largest Greek industry in the manufacture of plastic pipes. During
2001 the group bought out the 100% of the shares of Main Pipe Systems, which belonged
to Murray & Roberts, against the amount of Euro16m. Main Pipe Systems is the
leader of plastic pipe manufacture in South Africa. South African Investments
in Greece The South African investment presence in Greece is estimated
to US$120m and is represented by the following two companies. The NetMed Company through its sister company Multichoice Hellas
operates the first analogue and digital pay TV. The digital via-satellite broadcasting
of pay-TV programme was launched at the end of the year 2000. Up to now, Netmed
is estimated that it has invested in excess of US$100m in its Greek operations.
Operators of Multiplex cinemas, similar to
Ster Kinekor in South Africa, since September 2000 in Thessaloniki. The initial
investment is estimated to US$10m. - The South African Embassy in Athens
has also established the African-Hellenic Chamber of Commerce and Development
in 2000.
Issued by Ronnie Mamoepa on 082 990 4853 Department
of Foreign Affairs
Private Bag X152
Tshwane
0001 26 January
2006
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