Norway urged to invest in ‘green’ Africa

5 September 2011

South African President Jacob Zuma, speaking at a business forum in Oslo during a two-day state visit last week, said Norway could play a major role in helping Africa respond to climate change by investing in the continent’s “green” economy.

Zuma said such investments would lead to a cleaner environment and sustainable economic development on the African continent.

“Norway has the capacity and resources to make a significant contribution to the green economy, including renewable energy, parts and equipment for technology.

“South Africa would welcome such investment and would like to partner Norwegian companies,” he said.

Since international trade was a key tool for boosting economic growth and job creation, the government was encouraged by the progress in trade relations with Norway.

Zuma was accompanied by several Cabinet ministers on his state visit last week.

South Africa’s trade with Norway has increased significantly over the past five years, doubling from R963-million in 2006, to more than R3-billion in 2010.

This growth was driven by a major increase in South African exports to Norway, with South Africa becoming a net exporter to Norway in 2007.

Zuma indicated that South African companies would like to partner with Norwegian companies in the oil and gas, environment and marine technology, innovation and knowledge-based industries.

South Africa and Norway should also co-operate on climate issues ahead of the COP 17 summit in Durban later this year, he said.

Source: BuaNews