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SA companies showcase in Brazil

Trade and Investment

Trade and Investment

South African enterprises are proving their mettle by showcasing their abilities and experiences gained over the course of hosting the 2010 Soccer World Cup at the Investment and Trade Initiative (ITI) currently taking place in Brazil.

South African Ambassador to Brazil, Mphakama Mbete, said this could only boost trade and investment in South Africa.

“The importance of promoting these platforms is to showcase the prospects for trade and investment in South Africa, its capabilities and accomplishments in foreign markets. Brazil is a major trading partner of South Africa and a partner in multilateral organisations such as IBSA (India, Brazil, South Africa), the G20 and BRICS, among others.

“As Brazil’s economy continues to flourish, so does their need for resources from Africa, providing a new impetus to the history of African growth,” said Mbete during negotiations at the ITI between South African and Brazilian business delegates.

This is the third ITI to be hosted by the Department of Trade and Industry (dti) in Brazil. The initiative, which focuses on South Africa’s world cup legacy, kicked off on Monday in Sao Paulo, with dti Deputy Minister Thandi Tobias-Pokolo leading 45 South African companies to the event.

“The aim of these negotiations was to foster bilateral partnerships and opportunities for urban development, tourism and economic development of World Cup host cities in 2014,” said the dti on Wednesday.

Special Secretary of Coordination for the upcoming FIFA World Cup in 2014, Thaddeus Gilmar, said the ITI was an opportunity for Brazil and South Africa to exchange experiences.

Chief Director of Export Development at the dti, Bongi Ludidi, said the percentage of goods and services imported from Brazil was greater than what South Africa exported to Brazil.

“I am challenging all of you to take it upon yourselves to rectify this by making in-roads into the country, and help us bring statistics to an equal if not greater,” she said.

The companies participating in the initiative that concludes on Friday are from the built environment, construction, aerospace, rail and marine, manufacturing, agro-processing, services and electro technical sectors. – BuaNews

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