SIOUTH AFRICA, SINGAPORE TO EXPLORE TRADE OPPORTUNITIES

PRETORIA, South Africa and Singapore are to further explore opportunities of trade and investment.

This was agreed here Wednesday when Singapore’s Deputy Prime Minister, Tharman Shanmugaratnam, called on Deputy President Cyril Ramaphosa in a reciprocal visit.

The two leaders discussed over lunch how best Singapore can help South Africa strengthen its State-owned enterprises (SOEs). Last year Ramaphosa and his delegation visited Singapore to woo the island nation’s SOEs to invest in South Africa.

Shanmugaratnam and Ramaphosa discussed the two countries’ bilateral and economic relations and the governance of SOEs.

Currently, South Africa’s State-owned enterprises, which include South African Airways (SAA) and power utility Eskom are not doing well and the Deputy President says South Africa can learn a lot from Singapore on running SOEs.

Singapore is a world model for its economic success, which is partly attributable to its social cohesion. Its SOEs have contributed significantly to the economy.

Pretoria believes that lessons learnt from Singapore could pave the way for South Africa’s economic success.

Source: NAM NEWS NETWORK