# Minister of Trade, Industry and Competition, Parks Tau, says as a net oil importer, South Africa faces real recessionary risks and threats to industrial competitiveness. The US-Israeli war on Iran has severely curtailed shipping through the Strait of Hormuz, through which around one-fifth of the world’s supply of oil and energy normally flows. Tau says as South Africa navigates an increasingly complex global environment, the country remains firmly on course, with the government focused on stimulating investment, industrialisation, and combating illicit trade:
Minister Tau says SA is facing real recessionary risks amidst the complex global environment [SOUND]
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