Irish trade with South Africa is currently at a relatively modest level, although our exports have shown encouraging growth in recent years. Exports in 1992 were worth £39.6 million and imports £13.4 million. There is undoubted potential for significant further development with the normalisation of the political situation and the successful conclusion of the Uruguay Round.
The enhanced trade prospects presented by the new situation was a significant factor in the Government's recent decision to open a resident embassy there. The new embassy will be an important additional resource for An Bord Tráchtála in its trade promotion efforts in South Africa where it already employs a resident trade consultant base in Johannesburg.
An Bord Tráchtála will, of course, be keeping the situation and their scale of operations under careful review to ensure that the interests of Irish exporters are fully catered for. To further develop commercial links between Ireland and South Africa, I will be leading a multi-sectoral trade mission there later this year. The mission is being organised by An Bord Tráchtála with the co-operation of the recently established Irish South African Trade Association. This will be the third trade mission since November 1991 and is further evidence of our ongoing commitment to developing this increasingly important market.