The Department of Trade and Industry (the dti) and the Japan External Trade Organisation (JETRO), have agreed to jointly promote business ties between South African and Japanese companies. This is according to the Memorandum of Understanding (MOU) that the two parties signed on the side-lines of the Tokyo International Conference on African Development (TICAD V) summit, in Yokohama, Japan.
According to the Deputy Director-General of the dti, Ms Pumla Ncapayi, the two will jointly promote the Suppliers Development in the automotive sector in South Africa. This will be done through the facilitation of communication between Japanese automotive manufacturers and South African auto parts suppliers by holding the Suppliers Development Forum and Business matchmaking events.
Ncapayi added that both the dti and JETRO will also jointly promote the transfer of technologies for the renewable energy and energy efficiency sectors between South Africa and Japan by the organisation of business delegations and business match-making events.
“We both recognise the mutual benefit to promote trade and investment between South Africa and Japan, and affirming the significance of the past development of joint activities between us. We also agree on the extension and the up-grading of the MOU, which was signed on September 30, 2009, on promotion of business ties between the two countries’, she said.
Ncapayi indicated that the Japan External Trade Organisation (JETRO) will support the dti to organise the South African national pavilion in the FOODEX Japan 2014 by jointly holding the Japanese FOOD Market Seminars in South Africa. In addition, JETRO will provide South African exhibitors in the FOODEX Japan with the relevant market information through the dti.
The MOU will remain in force for a period of one year. It may be extended automatically on a yearly base, until terminated by mutual consent or by either Party giving the other Party thirty (30) days’ written notice.
Meanwhile, the dti has held three investments seminars in Japan as part of the implementation plan envisaged by the Memorandum of Understanding (MOU) signed between the department and the Bank of Tokyo-Mitsubishi, MUFG earlier this year.
The three investment seminars were aimed at increasing Foreign Direct Investments from Japan to South Africa by creating awareness of opportunities in South Africa and conveying critical aspects of SA's business climate.
The seminars have already delivered results with delegates stating on the fact that they "cleared up” a number of negative perceptions" they had about the country. Other comments were related to size of the market "within the context of the region" and the generous incentives and support that the South African government is willing to offer. The officials from the dti and the Bank received requests from participants for assistance with developing their business case for South Africa.
The signing of the MOUs with the Japan External Trade Organisation (JETRO) and the Bank of Tokyo-Mitsubishi, Mitsubishi UFJ Financial Group (MUFG) follow Minister Rob Davies visit to Japan last year. The aim of the visit was to enhance and deepen trade and investment relations with Japanese business, government and financial institutions.
Enquiries:
Sidwell Medupe
Departmental Spokesperson
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za@the_dti
