Introductory remarks by Minister of Finance Enoch Godongwana during a Bilateral Meeting with US Secretary of Treasury Janet Yellen

It is my privilege to welcome US Secretary of the Treasury, Ms Janet Yellen, and her delegation to South Africa.

The last time that a US Secretary of the Treasury visited South Africa was in 2014, eight years ago! This is therefore, indeed, a momentous occasion. There has been constructive cooperation between our two countries through the G20 and the Financial Stability Board (FSB), including on making appropriate regulatory standards for the financial sector.

There has also been broader cooperation between the US and the African region. I am pleased that Secretary Yellen is one of the leading U.S. Government Leaders that is advancing the U.S. administration’s initiative to bolster trade, economic and financial relations with South Africa and the African Continent.

The United States ranks among South Africa’s top trading partners, with a diverse flow of goods, services, and know-how between the two states, serving as a critical launchpad for the development of both economies. My hope is that this may continue.

I am equally pleased by the announcement that you made yesterday, that U.S. Treasury and South Africa’s National Treasury are committing to form a joint Task Force on Combating the Financing of Wildlife Trafficking.

I believe that Ms Yellen and I will have fruitful discussions today on a number of issues, including Anti-money laundering (AML) and countering financing of terrorism (CFT), climate financing and sovereign debt resolution in Africa.

Thank you for making the journey to country. We welcome you and your and your team.

Source: Government of South Africa