The Department of Trade and Industry (the dti) in partnership with The Bank of Tokyo-Mitsubishi United Financial of Japan (UFJ) will host investment seminars which aim to create awareness about business opportunities available in South Africa and convey critical aspects of South Africa’s business climate. The seminars will take place in Yokohama, Japan from 28 – 30 May 2013.
According to the Minister of Trade and Industry Dr Rob Davies, the seminars are a follow-up on a Memorandum of Understanding (MOU) signed between the dti and the Bank of Tokyo-Mitsubishi, Mitsubishi UFJ Financial Group (MUFG) in February 2013.
Minister Davies mentioned that other MOU’s will be signed with other institutions this coming week. The aim of the MOUs is to increase foreign direct investment from Japan into South Africa by supporting Japanese clients with market intelligence that will assist them to establish businesses locally.
“The business seminars will give a chance to South African businesses to have bilateral business interactions with their counterparts in Japan,” added Minister Davies.
Minister Davies explained that, South Africa’s export objectives to Japan aims to promote more value-added products from South Africa, and diversify the trade balance away from traditional resource related products.
Minister Davies says this would be achieved by focussing on manufactured goods in sectors such as agro processing, automotives, clothing, leather and textiles, metals beneficiation, chemicals and pharmaceuticals.
He added that Japan is an important export destination for South Africa.
“Japan is South Africa’s 3rd largest export destination, and an important traditional trading partner. According to information from Japan External Trade Organisation (JETRO), South Africa ranks either first, second or third as Japan’s source in the world, of imports of preserved pears, preserved apricots, grapefruit, prepared peaches, ground nuts, motor cars of a capacity less than 1 500 cc, cane sugar, oranges, rock lobster, macadamia nuts, apricots and juices, etc.,” said Minister Davies.
Minister Davies further added that the dti will also participate in the African Fair 2013 that will take place during the Tokyo International Conference on African Development (TICAD) V Summit.
The Fair is the biggest business event related to Africa in Japan and aims to promote African exports to Japan by exhibiting African products and by encouraging bilateral business interactions between Africa and Japan.
“High-end items such as Rooibos espresso, Fairtrade wines and Wedgewood nougat will be showcased to appeal to the sharp Japanese palette. Artwork from Ardmore Ceramics as well as Carrol Boyes design items, among others, will be exhibited during the Trade Fair,” said Minister Davies.
Enquiries:
Sidwell Medupe, Departmental Spokesperson
Cell: 079 492 1774
Tel: 012 394 1650
E-mail: MSMedupe@thedti.gov.za
Follow us on Twitter: @the_dti
