As contained in the press release from the Department of Trade and Industry, South Africa, dated Friday, 21st of July, South Africa is said to remain on her commitment to increasing trade and addressing the trade imbalance with Zambia. According to the report, the Minister of Trade and Industry, Dr Rob Davies noted this ahead of a two-day Outward Trade and Investment Mission to Lusaka, Zambia. This mission which is proposed between 24-25 July 2017.
It has been confirmed that twenty South African companies funded by the Department of Trade and Industry (the dti) will participate in the mission. As reported and according to Minister Davies, this mission will assist the department with contributing towards South African’s objectives of regional integration by strengthening economic relations between the two countries.
In addition, the mission also aims to advance the commitments made in December last year by the Heads of State of both countries during the state visit to South Africa by President Edgar Lungu of Zambia, where both countries agreed to deepen bilateral trade and investment relations.
Documentation shows that Zambia is one of South Africa’s top five trade partners in the Southern African Development Community region with total bilateral trade amounting to R33 billion in 2016. The minister further noted that such relation earns both countries double grounds.
“Platforms of this nature afford us the opportunity to not only consolidate political ties but also to create the much-needed value-chains, skills and technology transfer and employment generation required to give effect to our economic ambitions, both in South Africa and Zambia.” Adding that the mission will further enable South African companies to interact with leading private sector entities from agro-processing, agribusiness; infrastructure, advanced manufacturing, energy, services, tourism infrastructure development and mining and capital equipment.
“The mission will also present an ideal platform for South African companies who would like to export value-added products, and services as well as companies which are looking for joint-venture partnerships in Zambia,” Rob Davies submitted.
Correspondent: Ridwan A. Olayiwola
Comments are closed.