The second leg of first Outward Selling and Investment Mission to Nigeria by the Department of Trade and Industry (the dti) kicked off in Lagos yesterday.
Opening the mission which started in Abuja on Monday, the Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe said the close political relationship that exists between the two countries has fostered not only economic relations but commercial cooperation as well.
According to Thabethe, the recent global economic crisis has just made it more urgent that regional integration should be at the top of the economic agenda. She said the South African government placed great emphasis on the mutually beneficial business partnership that are able to leverage off existing technical expertise, capital resources and high-tech capabilities.
“We need to explore ways and means of continuing, increasing and encouraging both trade and investment initiatives in the respective economies,” she added.
Thabethe encouraged more South African companies to invest in the manufacturing sectors and to also insist that skills, technology and expertise transfer must become an integral part of the joint venture partnerships. She said only when the productive capacity of the African continent is strengthened can South Africa manufacture quality products and services, that can be consumed by both the domestic and export markets, especially in the region.
“By working together, we believe that both South Africa and Nigerian enterprises can contribute meaningfully to the transformation agenda of Nigerian government and the African continent as a whole. As a continent, we have an opportunity to recapitalise our natural resources, particularly now that the international commodity prices are high,” said Thabethe.
She highlighted the importance of this as it can promote economic transformation through commodity-based industrialisation. She said this is important as it speaks to adding value to resources, while at the same time harnessing skills and providing employment opportunities of the people.
The Consul-General of South Africa to Nigeria Ambassador Mokgethi Monaise said the mission was a clear indication that governments cannot lead the process of economic development alone, and that private sector is a pivotal partner in terms of trade, especially investment opportunities.
“I believe our governments are willing and ready to tackle the bureaucratic red tapes that business encounters to create a conducive environment for trade and investment to flourish,” he added.
Ambassador Monaise emphasised that cooperation between South Africa and Nigeria was critical to the realisation of the goal, as the two countries are the strongest economies.
Deputy Minister Thabethe later visited Dangote Industries Limited, a Nigerian company currently investing in South Africa.
The mission continues until tomorrow, and will afford South African businesspeople to interface with their Nigerian counterparts, visit operations to bench-mark and share experiences and also explore areas of possible collaborations.
Deputy Minister Thabethe and Ambassador Monaise at the Trade and Investment seminar in Lagos
Enquiries:
Sidwell Medupe-Departmental Spokesperson
Tel: (012) 394 1650
Mobile: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
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