TUNISIA & SOUTH AFRICA TRADE DEALS


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  • Written by:

    Dan Mwangi

    dan@mtkenyatimes.co.ke
    Tunisia and South Africa have agreed to establish the joint South Africa-Tunisia Business Council, aiming to stimulate trade and investment opportunities between the countries. BulelaniMagwanishe, deputy minister of trade and industry in South Africa, said that he has received assurance of the Tunisian businesspeople to set up the initiative. Magwanishe visited several Tunisian business associations in Tunis on the second day of the Outward Trade and Investment Mission to Tunisia organised by the Department of Trade and Industry (the dti).
    “We recognise that the critical stakeholders that are in a position to change the status quo that we are worried about are businesspeople from South Africa and Tunisia. This is the reason why we have embarked on a serious engagement with the Tunisian private sector so that we can get the ball rolling to bring them in contact with their South African counterparts in order to do business,” said Magwanishe.This is a very welcome occurrence for Tunisia which is trying to catch its grip after a violent revolution. Economic growth for the North African country is projected to expand modestly by 2.7% in 2018 through sustained agricultural and services growth, continued strengthening of tourism, and gradual recovery of tourism, phosphate and manufacturing. In the medium term, economic growth is projected to pick up gradually to 3.5% in 2019-20 against a backdrop of an improved business climate through structural reforms and greater security and social stability.
    Inflation is projected to increase to 6.7% in 2018, driven by the Dinar depreciation, the VAT rate increase, and the increase in prices of certain products (e.g., fuels, tobacco, telecom) while monetary tightening and fiscal consolidation will partly counteract inflationary pressures. Unemployment remained high at 15.5% in 2017 despite a low labor force participation, at about 50%……Subscribe to Readmore………

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