South Africa, Britain trade up in 2011

South African Minister of International Relations and Co-operation Maite Nkoana-Mashabane said with Britain trade had improved in 2011 after declining 37% from 2008 to 2009, amid the global financial crisis.

In the first 10 months of 2011, South African exports to the UK had increased 10.7% while UK imports were up 30.6%.

In 2011, the two countries agreed to double trade between them by 2015.

The UK remains South Africa's top source of overseas tourist arrivals, with 453 000 arrivals in 2010.

Trade between the two countries increased 77% between 2001 and 2008, growing from R42 billion to R74.5 billion.

Nkoana-Mashabane said there were more than 300 UK companies operating in South Africa and several South African companies in the UK. She said the South African government wanted to encourage UK companies to invest in beneficiation and the agro-processing sector in South Africa.

http://www.buanews.gov.za

*1 U.S. dollar = 7.70030416 South African rands