The Department of Trade and Industry (the dti) will be bringing twenty (20) international buyers from seven countries to the South African Automotive Week taking place at the Gallagher Convention Centre in Midrand, Gauteng from tomorrow 14 to Friday, 17 October 2014.
The buyers, who have been funded through the dti's Export Marketing and Investment Assistance Scheme (EMIA), are from the United States of America, Turkey, Nigeria, Russia, Argentina, Thailand and Uruguay. The flagship event has garnered high interest throughout the world to the extent that delegates from the Middle East, Asia and Europe will also be participating.
According to the Deputy Minister of Trade and Industry, Mr Mzwandile Masina, the main objective of bringing international buyers to the popular Automotive Week is to enable them to identify and assess opportunities for collaboration or establishment of joint ventures.
"This is part of our efforts to open markets for South African value-added exports in the automotive sector. Exposing international buyers to what the country has to offer will enable the exchange of licensing and patent technologies that are essential to the global competitiveness of the local supply chain." says Deputy Minister Masina.
He adds that the presence of international buyers will also afford an opportunity to market various incentives and support that the dti offers for Foreign Direct Investment into the sector.
The event will also serve to position South Africa as a premier investment location and showcase the automotive industry's capabilities as a reliable supplier of high quality, technology-advanced and globally competitive automotive vehicles and components.
Deputy Minister Masina will also deliver a keynote address at the South African Automotive Week Industry Conference which will feature key industry and government leaders addressing pertinent issues and trends impacting on the automotive business. The conference will take place under the theme "Africa’s Automotive Awakening: The Race is On!"
"The auto sector accounts for about 10% of South Africa's manufacturing exports, making it a crucial part in the economy. Over the past few years growth in the manufacturing of automotive parts and fully assembled vehicles has been the success story of manufacturing," adds Deputy Minister Masina.
The programme for the buyers will include interactive networking sessions, business-to-business meetings and site visits to different automotive companies in Gauteng.
Enquiries:
Sidwell Medupe
Departmental Spokesperson
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
Follow us on Twitter: @the_dti
