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FINANCIAL NEWS
UAE- South Africa bilateral trade USD2b
14 Nov 2011
(MENAFN) South Africa’s Minister of Trade and Industry, Dr Rob Davies, said that so far, total bilateral trade between his country and the UAE reached around USD2 billion, reported Gulf News.
Davis added that since 2003, South Africa invested around USD408 million in the UAE, becoming the Gulf country’s 19th largest investor, on the other hand, the UAE became the 24th largest investor in South Africa, with around USD134 million invested since 2003.
He also said that his country was Dubai’s 35th largest trade partner, with the value of total imports, exports and re-exports reaching USD1.48 billion in 2010.
It is worth noting that the biggest portion of South African money invested in the UAE went to the financial services sector, in addition to the communications and pharmaceutical sectors.
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