South African International Relations and Co-operation Minister Maite Nkoana-Mashabane will hold talks with the visiting Austrian Foreign Minister, Sebastian Kurz, Monday when he arrives for a working visit to the country.
Kurz will be leading a 50-member business delegation, including the President of the Austrian Chamber of Commerce, during the visit.
South Africa enjoys good relations with Austria, focused primarily on economic exchanges. In 2015, total trade between Austria and South Africa amounted to 7.76 billion Rand (about 559 million US dollars). South African exports were worth 920 million Rand and imports amounted to 6.82 billion Rand.
South Africa ranks sixth among Austria’s overseas trading partners and is Austria’s major trading partner in Africa.
Bilateral investment relations remain strong, with the South African Reserve Bank in 2014 recording South African direct investment in Austria at around 43 billion Rand, against about 10 billion Rand of Austrian total direct investment in South Africa.
Major South African businesses in Austria include Mondi, SAPPI Ltd and NET1 Technologies.
Source: NAM NEWS NETWORK.