South Africa and Benin have resolved to strengthen and consolidate business relations between the two countries. This was agreed at the two day 2nd South Africa - Benin Joint Trade and Investment Committee (JTIC) that was held in Sandton at Johannesburg in Gauteng. The session also amongst others resolved to establishment the SA-Benin Chamber of Commerce.
According to the incoming chairperson of the JTIC Ms Sindiswa Mququ, the commerce will promote the economic viability of both countries so that the existing businesses will grow and new ones will be developed. Mququ outlined that South Africa is determined to strengthen economic relations between the two countries and as such.
‘As South Africa, we have identified five development projects in Benin which are Port refurbishment, Rail refurbishment, Building Glo Djigbe International Airport, Agro-processing and SEDA-ANPME collaboration which will be the centre of focus during the current financial year’, said Mququ
The session was followed by a business seminar where South African businesspeople were urged to explore business opportunities in Benin. South African Ambassador to Benin Chief Gladstone Gwadiso, the two countries have solid relations.
“Benin supported South Africa during the struggle against apartheid and mutual cordial relationships between the two countries existed long before South Africa’s democracy Businesspeople from the two countries need to take advantage of this relationship and work together to explore opportunities that exist in South Africa and Benin,” said Gwadiso.
He added that trade, investment and joint ventures among businesspeople will enhance the economies of both countries and therefore it would be beneficial for businesspeople in these SA and Benin to work together to ensure that such opportunities are explored.
The Director-General of Benin Trade Transactions Promotions Agency (ABePEC) and Co-Chair of the JTIC Mr Robert Akinde, told businesspeople that South Africa was important to Benin and that Beninians were eager to invest in and have cooperations with South Africa.
“There are investment opportunities in transport logistics and trade, textile, Agro processing, oil produce, energy, tourism and maize sectors amongst others and we urge you to come to Benin and invest,” added Akinde.
Akinde said that Benin was in serious need of cement and building materials amongst others and that it would be beneficial for South Africa to come in and invest in the country. He added that Benin was willing to assist companies that are ready to import to the country.
Total trade between the countries increased by 51% in 2011 and 2012. South Africa’s exports increased by 37% while imports increased by 13, 7% during the same period. This can be attributed to the fact that between 2011- 2012, South Africa’s exports of motor vehicles for the transport of goods increased by 2496.87% while rod of iron/steel increased by 1 356.9%.
This is evidence that South Africa is diversifying and moving away from exporting raw materials to increased value-added products to Benin, which is in line with the country’s Industrial Policy objectives.
Enquiries:
Sidwell Medupe, Departmental Spokesperson
Cell: 079 492 1774
Tel: 012 394 1650
E-mail: MSMedupe@thedti.gov.za
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