Denmark is aiming to improve trade with South Africa utilising the country as a springboard into the rest of the continent.

This is according to Mogens Jensen, Danish Minister of Trade and Development Cooperation following a meeting with Rob Davies, minister of Trade and Industry (dti) in Cape Town.

Total trade between South Africa and Denmark has steadily been on the increase with total trade at R2.9 billion in 2009 having increased to R3.4 billion in 2011. In 2013, total trade increased to R4.8 billion.

South Africa and Denmark’s bilateral trade and investment relations are governed by the European Union and South Africa, Trade, Development, and Cooperation Agreement.

Davies says, “The total exports to Denmark from South Africa increased from R1 billion in 2009, R1.4 billion in 2011, with the exception of 2010(R917 million), 2012 (R1 billion) and 2013(R890 million). The decrease in total exports from South Africa to Denmark in 2012 and 2013 can be attributed to decline in external demand, due to slow recovery in the EU (28).”

During their meeting the ministers also discussed amongst others Bilateral Investment Treaties and the Tripartite Free Trade Area.

Source – SAnewsgov.za