By Ndumiso Mlilo.
JOHANNESBURG, South Africa. (News of The South) – The South African deputy Minister of Trade and Industry, Mzwandile Masina will lead a 30-member business delegation to Zimbabwe on an Investment and Trade Initiative sometime this month to enhance business relations with her Northern neighbour.
The three-legged Investment and Trade Initiative (ITI) will take place in Harare, Gweru and Bulawayo on March 13-19, 2016. The delegation will have companies in oil and gas, mining and capital equipment and electro technical sectors, built environment professionals, agriculture and agro-processing. Sidwell Medupe, the departmental of Trade and Industry spokesperson said, “The programme for the ITI will include business seminars, site visits, mini exhibitions, and business-to-business meetings.”
He also said the mission is to increase export market access for South African products and services. It is also meant to cement economic relations and increase trade and investment between South Africa and Zimbabwe. Masina said, “The mission to Zimbabwe will enable the South African companies to identify trade and investment opportunities in the country and to interact with Zimbabwean businesspeople and consider ways in which cooperation, partnerships and joint-ventures could be established in order to explore these opportunities.”
He also said the visit to Zimbabwe is a broader plan by his government to explore new markets with more emphasis on Africa and emerging markets. He also said, “The ITI will be a platform that will bring businesspeople from the two countries together to discuss ways in which they can contribute meaningfully in increasing trade and investment between the countries. South Africa is committed to participating actively in the reconstruction and development of the Zimbabwean economy. We believe the private sector has a critical role to play in growing our economies which are complementary and fundamentally linked.”
The deputy minister said South Africa is seeking to develop new markets for South Africa’s value-added and manufactured goods and services.
In the years, 2005–2014, South Africa’s exports to Zimbabwe grew by 247.3% from R7.1 billion to R24.8 billion. Trade between the two countries did go down between 2006 and 2009. The current trade balance favours South Africa.
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