By – SAnews.gov.za
A delegation of local companies is set to explore trade and investment opportunities and tighten investment relations in Kenya and Tanzania.
The Department of Trade and Industry (dti) will lead 19 South African companies on a Trade and Investment Mission (TIM) to the two East African countries next week.
The objective of the TIM that will get underway on Monday is to deepen bilateral trade and investment relations between South Africa and the two nations.
Trade and Industry Minister Rob Davies said the TIM will serve as a build-up on the success of the previous mission which the dti led in 2017.
“The Mission will further serve as continuous economic engagement efforts by South Africa to ensure increased levels of bilateral trade and investment between South Africa and these two East African countries.”
The Minister added that the 2017 mission outlined the vast opportunities that are available for South African companies in both markets, including the presence of South African goods and services in these high growth markets.
For South Africa, he said, Kenya and Tanzania remain as strategic and important partners.
He said expanding trade and investment relations between South Africa and Kenya is particularly important, with South Africa being the regional hub in Southern Africa and Kenya the regional hub in East Africa.
The trade relations with Tanzania are equally important and beneficial.
“Tanzania is strategically located, with it ports serving as an entry point to the East African community. This strategic advantage is therefore useful for South African companies seeking to penetrate the landlocked markets of Rwanda, Burundi, DRC and Uganda which are dependent on Tanzania’s port resources,” said Minister Davies.
The sectors targeted for the trade mission that will conclude on Friday include agriculture and agro-processing, chemicals, plastic and pharmaceuticals, infrastructure (such as roads, rail, bridges and ports) and the built environment professional services.
The programme for the TIM will include business seminars, business-to-business meetings and site visits.