Posted: November 24, 2020
The Department of Trade, Industry and Competition (the dtic) in collaboration with the Chile South Africa Chamber of Industry, Commerce and Tourism will host a trade opportunities webinar for South African and Chilean companies on Wednesday, 25 November 2020.
The webinar will set a basis for potential partnerships and an opportunity for companies to understand the requirements that need to be adhered to and the assistance available to facilitate trade.
According to the Deputy Minister of Trade, Industry and Competition, Mr Fikile Majola, the webinar will provide a platform for South African companies to promote their products and services to potential new customers in Chile. He adds that this will also promote South African exporters and provides an alternative destination for South African products in South America.
“the dtic undertook its first scoping mission to Chile in July 2013. The objective of the technical visit to Chile and Peru was to scope the market and identify trade and investment opportunities for South African products and services. This included opportunities for joint ventures on infrastructure projects in both countries. The exercise was undertaken with the aim to diversify South Africa export market and products to Chile, over and above capital mining equipment and services opportunities that South Africa was making inroads in,” says Majola.
Majola says according to the results of the scoping mission, the sectors identified for trade and investment include capital equipment, industrial vehicles, agro-processing, agricultural machinery and Investment sectors identified were infrastructure, waste management, water distribution and aquaculture.
Exports to Chile amounted to a total of R730 million in 2019. South Africa mainly exported Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof, imitation jewellery, coin at 29% followed by vehicles other than railway or tramway rolling stock, and parts and accessories thereof at 22%.
Imports from Chile amounted to a total of R1.3 billion in 2019. This was a decrease in imports compared to a total import value of R2.3 billion of 2018. However trade balance was still unfavorable to South Africa since exports were still lower than imports. South Africa mainly imported machinery, mechanical appliances, nuclear reactors, boilers, parts of 35% followed by preparations of vegetables, fruit, nuts or other parts of plants at 21%. South Africa has to take steps to change the negative trade balance.
Sidwell Medupe-Departmental Spokesperson
Tel: (012) 394 1650
Mobile: 079 492 1774
Issued by: The Department of Trade, Industry and Competition
Follow us on Twitter: @the_dti