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South Africa: Minister Nkoana-Mashabane to Promote SA in Germany
Source: www.sanews.gov.za
Source Date: Monday, November 14, 2016
Focus: Institution and HR Management
Country: South Africa
Created: Nov 14, 2016

The Minister will meet with high-level business people as well as the Bavarian Minister of European Affairs and Regional Relations, Beate Merk.

Bavaria is the largest of the 16 German federal states in Germany.

“It is a strategic economic hub and the second wealthiest region in Germany, with the state’s GDP amounting to €549.2 billion in 2015, meaning that Bavaria surpasses 19 of the 28 EU countries’ economies. 

“The Bavarian economic output per resident is above the German and European averages, making Bavaria one of the markets with the highest levels of purchasing power in the world,” DIRCO said.  

Bavaria is one of South Africa’s big trading partners. It is the headquarters of multinational corporations such as BMW, Audi, Adidas, Puma, Siemens, Munich Re, Allianz, Bosch Global Security, Kuka and MAN.

The total volume of trade in 2015 between Bavaria and South Africa was €1.6 billion, while in 2015, imports from South Africa to Bavaria were €461 million. This is an increase of 4.4% in comparison to 2014.

BMW invested R6 billion in South Africa in 2015 after awarding a contract to its plant in Pretoria for the production of the new generation BMW X3 modest cars for the domestic and export markets. 

Other significant partnerships between South Africa and Bavaria include the signing of the Sister Airports Agreement between Airports Company South Africa (ACSA) and Munich Airport Group, where they agreed on areas of strategic cooperation and information sharing. 

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