South Africa and Zambia have concluded discussions aimed at fostering increased trade relations for the mutual benefit of both countries.

On Tuesday, President Jacob Zuma received Zambian President Chagwa Lungu in his capacity as chairperson of the Southern African Development Community (SADC) Organ on Politics, Defence and Security.

This was President Lungu’s first visit to South Africa since his election on 20 January 2015.

The two leaders, who discussed a wide range of bilateral, regional and international issues, also acknowledged that Zambia has emerged as one of South Africa’s top three trading partners on the African continent.

As such, the two Presidents emphasised the need to work towards increased trade between the two countries.

It was President Zuma who acknowledged that the long-standing Zambian support for the liberation struggle in South Africa had led to the establishment of deep mutual bonds between the people of these two countries.

The two also underscored the need to further enhance the strategic bilateral cooperation and partnership between the two nations. They pledged their joint commitment to these effects.

They reaffirmed the importance of the Joint Permanent Commission for Cooperation (JPCC), which was signed in 2005.

The two Heads of State directed the Ministers of Foreign Affairs or International Relations and Cooperation to convene an inaugural session on the JPCC during the course of 2015.

Regional Issues

The two African leaders also exchanged views on the prevailing political, economic and security situation in the region, with particular emphasis on the political and security situation in the Kingdom of Lesotho; the security situation in the eastern Democratic of Congo and the political situation in Madagascar.

President Lungu commended President Zuma and the role South Africa is playing in facilitating the Lesotho political and security challenges.

They also committed to working together on regional matters, particularly on SADC integration.

The two Heads of State also expressed their commitment to the continental development aspirations, particularly Vision 2063.

With regard to international matters, the two reiterated their common view on the need to reform the multilateral institutions, including the United Nations Security Council.

President Zuma applauded the Zambian President for his offer to host the Summit of the C10 in May this year, while President Lungu congratulated South Africa for assuming the position on Chair of G77 and China. - SAnews.gov.za

The Deputy Minister of Trade and Industry, Mzwandile Masina, has arrived in Hyderabad in India where he is leading a delegation of South African businesspeople to the 6th annual India Investment and Trade Initiative (ITI).

The ITI – which is scheduled to take place from Monday to Wednesday – is expected to create market access for the South African value-added products and services in India.

It will also promote South Africa as an attractive trade and investment destination.

The Deputy Minister has encouraged the delegation of 25 businesspeople to maximise the opportunities offered by the Indian market and to follow up on the economic opportunities and partnership with Indian companies based in Hyderabad.

“India has an interest in Africa, particularly South Africa. In their interaction, it is important that members of the South African business delegation inform their Indian counterparts about our government programmes aimed at achieving the industrialisation and localisation of our the economy with special focus on Broad-Based Black Economic Empowerment, “ said Deputy Minister Masina.

The Deputy Minister’s programme will include bilateral meetings with the Chief Minister of Andhra Pradesh Sri Nara Chandra Babu Naidu and meetings with potential investors in business processing outsourcing (BPO), mining and the film industries.

He will also address a business seminar hosted by the Indian government in partnership with the Hyderabad Chamber of Commerce.

Trade between South and India has increased significantly over the past eight years, growing from R16.12 billion in 2006 to R90 billion in 2014.

This growth was driven by a major increase in the South African exports to India. - SAnews.gov.za

The final notice and regulations that allow for the introduction of Tax Free Savings and Investment Accounts (TFSAs) have been approved by Finance Minister Nhlanhla Nene. This will come into effect from 1 March 2015, the start of the new tax year. The incentive, said National Treasury in a statement on Friday, is an important [...]Regulations for tax free savings is a post from: South Africa Business

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Pretoria - Cabinet has, at its ordinary meeting on Wednesday, approved the hosting of the World Economic Forum (WEF) - Africa in South Africa in June.

“Cabinet approved the hosting by South Africa of the WEF-Africa at the Cape Town International Convention Centre (CTCC) from 3 to 5 June 2015,” said Minister for Performance, Monitoring and Evaluation in the Presidency Jeff Radebe at a post-cabinet media briefing in Cape Town on Thursday.

The theme of the meeting will be “Then and Now: Reimagining Africa’s future.”

WEF-Africa is a regionally focused economic forum that provides an opportunity for local and regional businesses and investors interested in the region, to exchange and even explore possible partnership with governments.

Minister Radebe said the WEF-Africa meeting will provide South Africa with an added opportunity to actively engage and lobby African leaders, international and regional businesses on possible interventions to integrate the region and enhanced growth in South Africa and the region. – SAnews.gov.za

Irish businesses paid their bills more than three days faster in the fourth quarter of 2014 compared to the same period in the previous year, according to the latest figures from global information services company Experian®.

Invoices were settled an average of 20.32 days beyond terms in the fourth quarter of last year, improving from the 23.13 days during the corresponding months in 2013. The improvement is even greater when compared to the fourth quarter of 2012, when Irish businesses took an average of 26.62 days beyond terms to pay bills.

By analysing the payment records of thousands of businesses in the Republic of Ireland and Northern Ireland, including those owned by overseas companies, Experian is able to identify if and when they are going to pay their debts. The latest payment performance analysis also reveals:

* Businesses in Donegal are paying their bills the fastest, averaging just 10.88 days beyond terms in the fourth quarter of this year.

* Conversely, businesses in Carlow continue to be the slowest to settle their bills, averaging 23.05 days beyond terms in the fourth quarter after paying 23.76 days beyond terms in the third quarter.

Declan Murphy, Commercial Director at Experian Ireland, said: “It's encouraging to note the payment performance of Irish companies has remained steady for the last three quarters, and has improved significantly on the same period last year. It's possible that as the economy steadily improves, businesses are beginning to find it easier to manage their cash flow. However, late payments continue to exert financial pressure on businesses, particularly small enterprises who find it challenging to secure credit and alternative sources of cash flow. It's critical for businesses to research their potential customers before entering into any business arrangement.”

The Department of Trade and Industry (dti) is inviting South African businesses to submit their entries for the 3rd Annual South African Premier Business Awards. Enter South African Premier Business Awards The awards, which will be hosted by the dti in partnership with Proudly South African and Brand South Africa in April, recognise business excellence [...] Enter South African Premier Business Awards is a post from: South Africa Business

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South Africa – The Investing in African Mining Indaba is an annual platform that brings more than 7 000 seasoned captains of industry in the mining sector under one roof at the Cape Town Convention Centre. Mining Indaba 2015 is scheduled to take place from 9 – 12 February. The event comprises an exhibition, conferences, [...] Contributing towards South Africa’s competitiveness is a post from: South Africa Business

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The National Energy Regulator of SA’s (Nersa) Chief Executive Officer Phindile Baleni has resigned, said the Department of Energy.

“The Ministry and the Department of Energy, would like to thank Ms Phindile Baleni (née Nzimande), for her commitment, dedication and excellent contribution to the energy industry in the country and beyond, during her term of office as the Chief Executive Officer of the National Energy Regulator,” said the department on Monday.

Baleni, who had been at the regulator for four years, was resigning to pursue other interests.

The department added that the energy industry has benefited great from her excellent mind, fine work ethic and integrity.

“It is our wish, as the Ministry and Department of Energy, that she will continue to make a great contribution to the energy sector and to socio-economic and infrastructure development in South Africa and beyond the continent.”

The department will soon embark on the process of recruiting a new Chief Executive Officer.

Whilst the search for a replacement Chief Executive Officer is on-going, the Minister of Energy will appoint an interim Chief Executive Officer for Nersa. – SAnews.gov.za

In an effort to enhance and elevate the structured bilateral cooperation between them, South Africa and Sudan have taken a decision to raise the Joint Bilateral Commission for Cooperation to a ministerial level.

The main objective of the commission will be to promote political, economic and social relations between the two sides.

In this regard, the ministers of International Relations and Cooperation and Ministry of Foreign Affairs have been tasked to work with speed to conclude an enabling agreement.

This emerged on Sunday after talks between President Jacob Zuma and Sudanese counterpart Omar al-Bashir. President Zuma was in Sudan capital Khartoum on a working visit.

Sudan and South Africa called for reinforcing economic cooperation and partnership establishment.

The two leaders reaffirmed commitment to reinforcing economic relations by encouraging both countries' private and public enterprises to further involve themselves in establishing partnerships to become a model for South-South cooperation.

“We also agreed to encourage more public and private sector companies to make joint ventures for the mutual benefit of the two countries and peoples. In this regard, Mr President, we direct our relevant ministers to work tirelessly to enhance our bilateral cooperation,” said President Zuma after the talks.

Already the two countries have sixteen bilateral agreements in a number of fields including trade, agriculture, defence, policing, arts and culture, social development, scientific cooperation.

“We talked about many issues, including the fact that, as African countries, we must be totally independent and take our decisions about our destiny," said President Zuma.

The two presidents also exchanged views on matters of peace and security in the continent, paying particular focus on the on-going conflict in South Sudan.

They called on all the parties involved in the conflict in South Sudan to show leadership and responsibility to bring an end to the conflict.

“To this end, we have committed ourselves to playing our part to help resolve the crisis. The people of South Sudan need peace, security, stability and development,” said President Zuma.

The two leaders also reaffirmed their support to the UN and the African Union as important institutions of consolidation for peace maintenance of regional and international security, according to the communique.

Al-Bashir described President Zuma's visit to Sudan as "fruitful," saying that "we have agreed to promote cooperation, implement all previous agreements and upgrade the joint ministerial committee". - SAnews.gov.za

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