December 02, 2008

Pakistan calls for support from South Africa for its steel sector

It is reported that that Pakistan and South Africa have identified sectors including mining, steel, auto, chemical and plastics, scientific and engineering research and standards to increase cooperation between the two countries. This was discussed at a meeting held on Tuesday between members of the Engineering Development Board and a visiting 6 members delegation led by Mr Willem Vander Spuy director of South Africa’s Department of Trade & Industry.

The South African delegation underlined the importance of a specific work program in these sectors so that the relationship could be built on a sustainable basis. The delegation assured that South Africa is keen to build a partnership with Pakistan and seeks to increase interactions between the two governments and respective business community.

Mr Zahid J Yaqub GM of Pakistan’s Engineering Development Board gave a sixty minute presentation covering macro economic indicators, investment environment, competitiveness and efficiency improvement initiatives, production trends of automotive products, home appliances, steel industry, telecommunication, plastics, performance of selected industries.

Mr Zahid in particular requested for South African help in steel production. He said that a steel policy was under preparation covering incentives to investors for steel making in various areas of the country. In this regard, he also mentioned ten possible iron ore based sites including Kalabagh for setup of a new steel mill in the country.