South Africa should be used as a gateway into Africa so that it can create business linkages and opportunities for the continent. This was said by the Ambassador of the Republic of South Africa to Russia HE Mandisi Mpahlwa. He was addressing business delegates during the Investment and Trade Initiative (ITI) held in Moscow, Russia, yesterday.
The purpose of the ITI is to introduce local firms to the Russian market with the aim of assisting South Africa’s new and existing exporters to gain entry into this market for the purpose of making export sales, establishing trade leads and strengthening existing networks within these markets.
“South Africa is the largest trading economy in Africa and contains 25% outputs of all Africa’s economies and also one of the active and strongest players in the continent. It is therefore important that trading partners especially Russia and neighbouring countries expand their export footprint through our formal structures,” said Ambassador Mpahlwa.
He also said that business forums are important to both countries and that these will deepen and strengthen the inter-governmental forums.
“These and other formal forums such as BRICS will lead our work and increase trade between the two countries” added Mpahlwa.
The Director for Europe Bilateral Relations within the Department of Trade and Industry, (the dti) Mr Moloko Leshaba said South Africa and Russia enjoy good, cordial and vibrant economic relations.
‘Each country is boasting technological and industrial capabilities that present opportunities and cooperation for the companies taking part in the ITI. This will foster closer linkages and trade opportunities for businesses,” said Leshaba.
Russia is the world’s seventh largest economy by nominal gross domestic product and the sixth largest by purchasing power parity. It is also South Africa’s 41st export destination.
The ITI will end on 29 March 2012.
Enquiries:
Sidwell Medupe
Departmental Spokesperson
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
