There is a great opportunity to improve trade and investment between South Africa and the Democratic Republic of Congo (DRC). This was said by the Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe. She was speaking at the South Africa-DRC Business Seminar that was hosted by the Department of Trade and Industry (the dti) in Kinshasa yesterday.
The seminar was part of the first leg of the Investment and Trade Initiative (ITI) to Kinshasa and Lubumbashi where Deputy Minister Thabethe is leading a delegation of 43 businesspeople.
“The DRC continues to be a strategic market and partner for South Africa. It is one of the fastest growing economies in Africa. Its Growth Domestic Product (GDP) increased from 6.9% in 2011 to 7.2% in 2012, driven by vigorous performances in mining, trade, agriculture and construction. The economy is expected to continue to expand this year.
There is a great opportunity to improve trade and investment between South Africa and the DR. This calls for our businesspeople to work hard as we as government have created forums like these to enable them to take advantage of the available opportunities,” said Thabethe.
Thabethe added that one of the opportunities that are available for both countries was in upgrading existing or new investments in manufacturing across a range of sectors.
“Although manufacturing and beneficiation are important for economic development of Africa, they are currently not the drivers of its economies and we need to change that. Manufacturing and beneficiation are important as they will create more jobs and promote industrialisation. Africa contributes 1% of the world manufacturing output and we need to strive to improve that,” said Thabethe.
She noted that in 2012 South Africa’s exports to the DRC amounted to R11.5 billion whilst its imports from the DRC were worth R74.5 million.
“It is clear that there is a greater room to increase investments and to grow the volume of the two-way trade and create a more diversified balance of exports from both countries. We urge businesspeople from the DRC and South Africa to take advantage of platforms such as this ITI to engage with potential partners and contribute in increasing investment and trade between our countries,” said Thabethe.
The Minister of Trade and Small and Medium Enterprises in the DRC, Mr Remy Musungai told the seminar that the DRC was a sleeping giant, and needed countries like South Africa to work with in reviving abandoned companies, improving social life, creating jobs, reducing poverty and the development of the country’s infrastructure.
“There is an unlimited number of opportunities for the South African business community to explore in the DRC. The two governments have created a conducive environment for businesspeople to operate in without major hindrances through the establishment of the Bi-National Commission and the signing of the Memorandum of Understanding on Economic Cooperation,” added Musungai.
Enquiries:
Sidwell Medupe
Departmental Spokesperson
Cell: 079 492 1774
Tel: 012 394 1650
E-mail: MSMedupe@thedti.gov.za
Twitter: @the_dti
