South Africa on a mission to strengthen cordial trade relations with Tanzania
The Department of Trade and Industry (the dti) will lead a 25 member strong business delegation on an Outward Selling and Investment Mission (OSIM) to strengthen the already existing cordial relations between South Africa and Tanzania, and to also increase bilateral trade and investment with the business community. The mission will take place on the side-lines of the Dar Es Salaam Trade Fair set to take place from 27 June – 8 July 2016.
The Deputy Minister of Trade and Industry, Mr Mzwandile Masina says this mission is of significant importance, more especially in relation to the rapid economic growth that Tanzania has demonstrated particularly driven by infrastructure, information communication technology and the construction sector in the past ten-years.
Masina adds that the mission specifically aims to build on the Bi-National Commission (BNC) Agreement signed by the two countries in 2011, to prioritise economic cooperation through trade and investment and create job opportunities in the respective countries.
“It is worth mentioning that Tanzania ranks as South Africa’s 12th largest trading partner in Africa, with trade currently exceeding R6 billion. However the trade balance is skewed in South Africa’s favour with a trade surplus of R6.5 billion. It is our objective that this exercise will solidify our strategic partnership and pave the way for our business community to partner with Tanzania in establishing infrastructure such as roads, ports, renewable energy and mines,” he adds.
The impending OSIM is aligned to the dti’s Trade and Investment South Africa’s (TISA) unit’s strategic outcome-oriented goal of building mutually-beneficial regional and global relations, to advance South Africa’s trade, industrial policy and economic development objectives.
Masina also adds that the mission’s programme will comprise of a trade and investment seminar, business-to-business meetings and site visits to prospective projects that are underway in Tanzania.
Enquiries:
Sidwell Medupe
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
