TABLE OF CONTENTS

I.     COMMERCIAL OVERVIEW.......................................1

II.    LEADING U.S. EXPORT PROSPECTS.............................2

III.   ECONOMIC TRENDS AND OUTLOOK...............................3
       -Economic Overview
       -Major Trends and Outlook
       -Principal Growth Sectors
       -Government Role in the Economy
       -Balance of Payments Situation
       -Trade and Investment Barriers
       -Labor Force
       -Major Local & Third Country Competitors in
       -Specific Sectors
       -Infrastructure

IV.    THE POLITICAL ENVIRONMENT.................................15
       -Nature of the Bilateral U.S./South African Relationship
       -Major Political Issues Affecting the Business Climate
       -The Political System
       -South Africa's First Democratic Election
       -Orientation of the Major Political Parties

V.     MARKETING U.S. PRODUCTS AND SERVICES......................19
       -Distribution and Sales Channels
       -Use of Agents/Distributors: Finding a Partner
       -Assistance Offered by the U.S. and Foreign
       -Commercial Service
       -Franchising
       -Direct Marketing
       -Licensing
       -Steps to Establishing an Office
       -Advertising and Trade Promotion
       -Major Newspapers
       -Trade Journals
       -Pricing
       -Selling to the Government
       -Protecting Your Product from IPR Infringement

VI.    TRADE REGULATIONS AND STANDARDS...........................33
       -Tariffs and Import Taxes
       -Import Permits (Licenses)
       -U.S. Export Controls
       -South African Export Controls
       -Import/Export Documentation
       -Warehousing
       -Barter/Countertrade
       -Used Goods
       -Temporary Import of Samples
       -Labelling, Marking Requirements
       -Standards
       -Free Trade Zones/Warehouses
       -Membership in Free Trade Arrangements

VII.   INVESTMENT CLIMATE......................................44
       -Openness to Foreign Investment
       -Conversion and Transfer Policies
       -Expropriation and Compensation
       -Dispute Settlement
       -Political Violence
       -Performance Requirements/Incentives
       -Right to Private Ownership and Establishment
       -Protection of Property Rights
       -Regulatory System: Laws and Procedures
       -Efficient Capital Markets and Portfolio
       -Investment
       -Bilateral Investment Agreements
       -Overseas Private Investment Corporation (OPIC)
       -Foreign Trade Zones/Free Ports
       -Capital Outflow Policy
       -Major Foreign Investors

VIII.  TRADE AND PROJECT FINANCING.............................55
       -The Banking System
       -Foreign Exchange Controls
       -Financing Availability
       -Methods of Payment
       -Foreign Exchange for Import Purchases
       -Air Shipments
       -Types of Available Trade and Finance and Insurance
       -Project Finance
       -Banks in South Africa with Correspondent U.S.
       -Banking Arrangements
       -Banks in South Africa with Correspondent
       -Worldwide Banking Arrangement

IX.    BUSINESS TRAVEL.........................................65
       -Business Customer
       -Travel Advisory and Tips
       -Business Infrastructure

X.     APPENDICES..............................................70
       A. Country Data
       B. Best U.S. Export Prospects
       C. U.S. and Country Contacts
       D. Market Research
       E. Trade Event Schedule