Deputy Minister Pahad to host Bulgarian Counterpart

Pretoria – South African Deputy Foreign Minister Aziz Pahad will on Friday 14 March 2008 host his Bulgarian counterpart Deputy Foreign Minister Feim Chauhev for bilateral political, economic and trade discussions at the Diplomatic Guesthouse in Pretoria.

Deputy Minister Pahad will host his counterpart within the context of South Africa’s priority to consolidate bilateral political, economic and trade relations with the European Union of which Bulgaria is a new member, with a view to strengthening North-South co-operation.

Accordingly, issues on the agenda of discussions between Deputy Ministers Pahad and Chauhev are expected to include, among others:

• The status of bilateral political, economic and trade relations between the two countries;
• The consolidation of the African agenda within the context of the outcomes of the Africa – European Union Summit hosted by Portugal in December 2007;
• Developments in the Economic Partnership Agreement negotiations;
• The forthcoming South Africa – European Union Summit to be hosted by France in Nantes in July 2008;
• Peace-keeping and post-conflict reconstruction within the framework of  trilateral programmes in Africa between Bulgaria and South Africa;
• Perspectives on Bulgaria’s new Africa policy
• A briefing on developments within Africa;
• The comprehensive reform of the United Nations;
• Developments in Kosovo; and
• Developments within the Middle East.

Bilateral Economic Relations

Trade between South Africa and Bulgaria has grown steadily over the years although there is room for the expansion of bilateral trade relations and the exchange of trade and investment missions should be actively encouraged and promoted.  Both sides should explore ways to compliment each other in the economic field.

Bilateral trade amounted to approximately R183 861 million, with the trade balance in favour of South Africa during 2007.  The sharp increase in trade during 2006 and 2007 was mainly due to the increased exports of coal to Bulgaria.

Following the accession of Bulgaria to the EU in 2007, the entering into effect of the Trade Development Co-operation Agreement (TDCA) is expected to stimulate bilateral trade between the counties.  In terms of the TDCA a Joint Council of Economic consultations should be established with the aim of strengthening of bilateral trade

South African trade for the period 2005 – 2007 ( R’000):

Year    Import             Exports          Trade Balance          Total Trade    Annual
                                                                                                                        Growth%

2005    39 536             26 817             -32%                            66 353             +28%
           
2006    75 853             40 490             -34%                            116 343           +75%

2007    70 549             113 312           +59%                           183 861           +58%

Main exports to Bulgaria include mineral products, wool, citrus and deciduous fruit, tobacco, granite, plaster and cement, chromium ores and prepared foodstuffs.

Main imports from Bulgaria include chemical products, machinery and mechanical appliances, automotive parts, vegetable products, prepared foodstuffs, textiles and plastic articles.

There is currently no direct Bulgarian investments in South Africa.  However, there are direct investments from South Africa in Bulgaria in the mining industry, agriculture sector and NEDCARE, a South African private healthcare company which has invested in the medical sector in Bulgaria. 

Media Programme for Incoming Visit by Bulgarian Deputy Foreign Minister Feim Chauhev, Friday 14 March 2008

Issued by Ronnie Mamoepa on 082 990 4853

Issued by Department of Foreign Affairs
Private Bag X152
Pretoria
0001

13 March 2008