Posted: September 5, 2019
the dti on a Mission to Showcase Locally Manufactured Goods in Angola
|The Department of Trade and Industry (the dti) will lead a delegation of 25 South African business representatives on an Outward Trade and Investment Mission (OTIM) to Luanda, Angola from 9-13 September 2019. The mission aims to promote South African value-added products and services, while creating partnerships between the business communities of the two countries.
The companies’ participation is funded by the dti through its Export Marketing and Investment Assistance (EMIA) Scheme. The objective of the scheme is to develop export markets for South African products and services and to recruit new foreign direct investment into the country.
The Deputy Minister of Trade and Industry, Mr Fikile Majola says Angola presents a wealth of untapped trade and investment opportunities. He urges all participating business delegates to not only pursue trade opportunities, but sustainable investments in accordance with the objectives of the African Continental Free Trade Agreement (AfCFTA) which aims to increase intra-African trade and investment.
“As Angola seeks to expand its industrialisation process and diversify its economy from its historic dependence on oil, the dti’s intention is to position South Africa as a preferred trade and investment partner through structured, focused and sustained commercial engagements in the targeted sectors of this mission,” says Majola.
The week-long mission will comprise of trade and investment seminars, targeted business-to-business meetings and sector specific site visits.
The participating companies will represent the following strategic sectors which have been prioritised in the South African Government’s re-imaged industrial strategy: infrastructure, construction and rail, aerospace and defence, built environment professions, mining, agro-processing, agriculture and agri-business.
South Africa and Angola enjoy strong bilateral relations, with total trade amounting to the value of R23 billion in 2018.