speech deliv ered by dr mathews phosa, treasurer general of the ...

BRITISH AND EUROPEAN BUSINESS AND INDUSTRY
LONDON - 29 OCTOBER 2009
PAGE 4 OF 4
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time. Our budget policies will continue those that w e developed over time, target inflation,
encourage counter cyclical investments and relax export regulations.
The signs are that w e w ill move out of the recession in the fourth quarter of this year, start
growing by just over 1% next year and move towards a growth of 3.2% in 2012.
We are flattered by the investment into our financial services industry by Britain and China.
Other investments are being discussed into this sector, a sector that has been praised globally
for its strength under the onslaught of the global crisis.
Similarly, we have been strengthened by your support of our conservative and sound fiscal and
monetary policies.
Whilst mindful of our responsibility to broaden our services to our voters at speed, w e are also
mindful of the need of a constant and increased inflow of foreign direct investment as w ell the
development of profitable joint ventures. It is simply not in our interest to deviate from that path.
I am here as an elected representative of the ANC leadership to seek lasting commercial
partnerships that w ill benefit the United Kingdom, Europe, South Africa and Southern Africa.
Hopefully our interactions here this evening w ill contribute tow ards creating more opportunities
for entrepreneurs on both sides.
In closing, I w ant to thank Lonmin for their sponsorship of this event. Their sponsorship of this
event shows their deep understanding for the support of forums w here we can engage business
leaders in global financial centers such as London.
The co-convenors of the Progressive Business Forum, Renier Schoeman and Daryl Swanepoel,
w ill engage w ith you regarding further events next year where members of the ANC leadership
as w ell as government ministers w ill engage w ith you here on issues that define our commercial
and other relationships.
We sincerely appreciate Lonmin’s sponsorship of this event as well as your attendance here.
I thank you.