The admission of South Africa to Japan's Generalised System of Preferences will enhance that relation. The Japanese Government's substantial financial assistance package will have a marked impact especially on infrastructural development. Japanese brand name products, manufactured under licence in South Africa, are well-established in our markets. And yet, there is relatively little direct Japanese investment in South Africa. Those among you have ventures in our part of the world will confirm that South African policy is friendly towards foreign investment.
Foreign investors receive the same rights and privileges as local investors.
There are no restrictions on foreign ownership of business or on the sectors of the economy in which they may invest. The investment climate is also being made more attractive through such changes as the relaxation of exchange controls and the planned abolition of non-residents tax. But more important than the absence of impediments to foreign investment, is the powerful attraction of the long-term prospects of growth in South Africa and Southern Africa as a whole. Political stability, democratic systems of government and peace have become the norm in our region. Through the South African Development Community, we are working towards trade integration and a regional framework for investment.