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A delegation of business leaders and government officials from South Africa – which recently joined the BRICS group of countries, arrived in Moscow today Monday, 14 February for a three day visit to boost trade and investment between Russia and South Africa.
Russian President Dmitry Medvedev welcomed South Africa’s membership in the Brazil, Russia, India, China and South Africa (BRICS) at the World Economic Forum in Davos last month. South Africa will participate at the BRICS Summit in China, scheduled for April.
Speaking of the visit, the Acting Deputy Director-General of the Department of Trade and Industry (the dti), Riaan Le Roux, said, “By 2020, the BRIC countries are expected to contribute nearly half of all global Gross Domestic Products (GDP) growth. I am delighted that South Africa is now a part of this winning team.”
The Trade and Investment Initiative in Moscow from tomorrow 15 and 17 February 2011 will include an exhibition and sector-specific investment seminars. The visit aims to strengthen partnerships between Russia and South Africa through joint ventures, technology transfer and skills sharing. It will also showcase products and services in Russia and South African markets.
“There is enormous potential for Russia and South Africa to grow our business links – from aerospace and agriculture to energy. Not to mention sharing experiences of hosting the World Cup!” Total trade turnover between South Africa and Russian Federation in 2009 increased by 6.42 percent from 484.02 million USD to 517.21 million USD. In 2009, the import of Russian goods into South Africa increased by 155.69 million USD, compared to the same period of 2008, from 40.28 million USD to 195.97 million USD.
Enquiries:
Sidwell Medupe
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
Source: Department of Trade and Industry
