SOUTH AFRICA BUSINESS DELEGATION FLIES TO GHANA, NIGERIA
PRETORIA,The Department of Trade and Industry (the dti) will next week lead a business delegation on a Trade and Investment Mission to Ghana and Nigeria.
The department on Friday said the visit to West Africa will start on Monday and conclude on Saturday.
"The mission forms part of the dti's objective to identify and create export markets for South African value-added products and services.
"It will also serve to promote South African products and service offerings, while creating business partnerships between business communities of the respective countries," said the department.
The department's Minister Rob Davies said the mission is aimed at advancing Ghana, Nigeria and South Africa's trade and investment relations.
Both Ghana and Nigeria feature as key strategic partners for South Africa in the West Africa region and are pivotal partners towards advancing integration on the continent.
Davies said the department has prioritised engagements with these two strategic markets following the successful State visit to Nigeria last year.
"The mission will also create a platform to facilitate networking and the obtaining of information on the dynamics of the industries, as well as availability of partnership opportunities in both Ghana and Nigeria. It will also provide opportunities for relationship building amongst business communities," he said.
According to the Minister, as both the Ghanaian and Nigerian economies diversify away from oil, South Africa can assist with the necessary skills and expertise required to advance the diversification of both markets, at the same time increasing the South African footprint both in value-added products and investments in these markets.
South Africa's exports to Nigeria increased from R6.4 billion in 2012 to R8.3 billion in 2015, slightly declining to R6.4 billion in 2016.
The two countries continuously traded goods at high capacity and Nigeria maintained the trade surplus of R23 billion in 2016.
"In 2016, South Africa's total exports to Ghana were valued at R4.9 billion, while imports were valued at R192 million. South Africa registered a trade surplus of R4.7 billion with Ghana in 2016," said Davies.
Sectors targeted for the West African trade mission are agro-processing, electro-technical, infrastructure, mining and capital equipment.
The programme for the mission will include trade and investment seminars, site visits and business-to-business meetings.
Source: NAM NEWS NETWORK