The Deputy Minister of Trade and Industry, Mr Mzwandile Masina arrives in Havana today to lead a delegation of 35 South African businesspeople seeking trade and investment opportunities in Cuba. Twenty of the companies will participate in the 33rd Havana International Trade Fair (FIHAV) starting on Monday, while the rest will engage on a programme aimed at exploring opportunities for partnerships and joint-ventures in the Cuban economy.
FIHAV is one of the most prestigious trade fairs in Latin America and the Caribbean. Last year the fair attracted more than 1000 companies from 46 countries. This year more than 70 countries have confirmed their participation and the number of countries represented is expected to increase.
According to Deputy Minister Masina, the participation of the South African companies in FIHAV will provide an excellent platform for them to identify trade opportunities in various sectors of the Cuban economy. These include agro-processing pharmaceuticals bio technology Information and Communication Technology, renewable energy, electro-technical, chemical, construction, hospitality and geo-mining sectors.
“Our continued participating in FIHAV since 2008 exposes South African companies to export opportunities that they can take advantage of. It is also a good platform to promote South African products and services to potential new customers and for them to obtain new business and penetrate new markets. FIHAV allows South African exporters to get their foot in the door and start developing key relationships with Cuban buyers including others from the rest of the world who attend the event. Cuba is a country with immense market potential,” says Masina who was also in Cuba early this week as part of Deputy President Cyril Ramaphosa’s official visit.
Masina says the investment mission to Cuba, the first to be undertaken by the Department of Trade and Industry (the dti), follows the seminar on Doing Business in Cuba that the department hosted in Pretoria last month.
“South African businesspeople who participated in the seminar learnt about the countless investment opportunities that are available in Cuba for them to explore. We are optimistic that the investment mission will go a long way in assisting local companies take advantage of the cordial political and economic relations between SA and Cuba, and invest in the country. Our mission is to increase trade and investments between the two countries,” says Masina.
Companies participating in FIHAV and investment mission have been funded by the dti through its Export Marketing and Investment Assistance Scheme (EMIA). The purpose of the scheme is to assist companies develop export markets for SA products and services, identify new export markets through market research, increase the levels of direct investment in priority sectors, and increase export market access for South African manufacturing and service companies.
Total trade between South Africa and Cuba has improved from R31 million in 2012 to R49 million in 2014.
Enquiries:
Sidwell Medupe-Departmental Spokesperson
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
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