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Essay / Importance of Foreign Trade in South Africa - 2438
After the apartheid period, foreign trade in South Africa saw a gradual increase after the lifting of several sanctions and boycotts. South Africa is the world's largest producer of chromium, manganese, platinum, etc. and also the second largest producer of gold. It is also the world's third largest exporter of coal. South Africa has a large agricultural sector and is a net exporter of agricultural products in the region. South Africa's main international trading partners, apart from African countries, are Germany, the United States, China, Japan, the United Kingdom and Spain. Major exports include corn, diamonds, fruit, gold, metals and minerals, sugar and wool. However, machinery and transport goods account for more than a third of the value of the country's imports. Other imports include chemicals, manufactured goods and petroleum. Currently, the UAE is a key trading partner with African buyers and importers. Over the past five years, the importance of establishing trade and investment relationships with global economic development in mind has increased. AfricaThe Department of Trade and Industry uses its strong government-to-government relationships and mechanisms to develop an economic growth agenda for Africa that focuses on:1. Recognize and establish joint investment projects in partner countries2. Promote bilateral trade3. Coordinate South African technical cooperation and assistance to support policy and institutional development in partner countries4. Encourage the development of cross-border infrastructure5. Promote regional integration through the strengthening and consolidation of the Southern African Customs Union (SACU) and the Southern African Development Community (SADC) Free Trade Agreement6... .... middle of document ......ds more varied energy Alternatives include gas, solar and nuclear power. The Johannesburg Stock Exchange (JSE) had a good year in 2013, growing well above that of the South African economy as a whole. However, given that capital flows to emerging markets have shown some unpredictability in recent weeks and that domestic issues such as continued labor disputes are possible, 2014 could see more modest performance, although potential IPOs could give it a welcome boost. The latest government projections forecast GDP growth of 2.1% for last year. For foreign investors looking to place their funds in emerging markets, the JSE has been and is likely to remain an attractive option, given that it is moderately large, diversified, liquid and well regulated. Around two thirds of the value of listed bonds and a third of shares are held by foreign investors.