The Group Chief Operations Officer of the Department of Trade and Industry (the dti), Ms Jody Scholtz will lead a business delegation comprising of 29 companies on the 6th Investment and Trade Initiative (ITI) to Brazil from 20 - 24 October 2014. The ITI will take place in the cities of Sao Paulo, Belo Horizonte, Curitiba, Joinville and Porto Alegre.
According to the Minister of Trade and Industry, Dr Rob Davies, the objective of the ITI to Brazil is to increase the exports of South African value-added products to the Brazilian market.
"The ITI will focus on showcasing South Africa's capabilities to produce world class products and services in the targeted sectors of capital mining equipment, agro-processing (wine, fruit juices and rooibos tea), cosmetics and aerospace and defence," says Minister Davies.
The ITI programme will include a trade and investment seminar, business-to-business meetings and sector focused site visits to various companies in the four cities.
"South African companies have developed highly specialised skills and products which are highly sought after in the Latin American market. Brazil presents various opportunities for South African companies to market their expertise and collaborate in projects with Brazilian companies. This market continues to show growth and expanded consumption," says Minister Davies.
The Brazilian GDP increased by 2.3% in 2013 to reach US$ 2.24 trillion, maintaining Brazil as the world's seventh wealthiest economy. The Brazilian market represents a vibrant consumer base with a population of around 200 million, which have experienced a significant expansion in consumption as more than 30 million people have been lifted from poverty in the last decade or so.
Minister Davies adds that both Brazil and South Africa share strong political and economic relations which provide a conducive environment for South African entities to market their products and establish partnerships as attested to by the results of last year's ITI to Brazil.
In October 2013, the 5thITI to Brazil was held in the states of São Paulo, Belo Horizonte and Curitiba. Sixteen South African companies from various industries participated. Export sales to the tune of R800, 000 were confirmedat the event,while sales after six months were almost doubled at R1.5 million
Brazil remains South Africa's largest trading partner in Latin America. Trade between South African and Brazil, who are both members of the BRICS (Brazil, Russia, India, China, and South Africa) and IBSA (India-Brazil-South Africa) groupings, has seen steady growth in recent years. Exports to Brazil still represent a small percentage of South Africa’s global exports. South Africa's top five exports to Brazil include anthracite (coal), precious metals, plastics, aluminium and car engines. The top five imports from Brazil include vehicles, machinery and ore.
Enquiries:
Sidwell Medupe, Departmental Spokesperson
Tel: 012 394 1650
Mobile: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
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