By TZ Business News Staff.
Tanzania receives a nineteen company delegation from South Africa during the week starting May 21, 2018 as Southern African Development Community (SADC)’s largest economy seeks to strengthen its investment foothold and business links with Kenya and Tanzania.
The sectors targeted for this mission are agriculture and agro-processing, chemicals, plastic and pharmaceuticals, infrastructure, built environment professional services, electro-technical, steel fabrication, steel tubing, mining and capital equipment.
This is expected to be the second high powered business delegation from South Africa to visit the country within the last twelve months. South Africa’s former President Jacob Zuma led a Government and Business delegation to Tanzania in May, 2017 as part of efforts to strengthen both business and government links with Tanzania.
During the visit President Zuma and his host, President John Pombe Magufuli addressed issues related to strengthening business links. The South Africa-Tanzania Business Forum was officially launched during this visit and held on the sidelines of the State Visit.
President Zuma was accompanied by Minister of International Relations and Cooperation, Ms Maite Nkoana-Mashabane; Minister of Defence and Military Veterans, Ms Nosiviwe Mapisa-Nqakula; Minister of Science and Technology, Ms Naledi Pandor; Minister of Trade and Industry, Dr Rob Davies; Minister of Environmental Affairs, Ms Edna Molewa; and Minister of Transport, Mr Joe Maswanganyi as well as a business delegation.
A follow-up visit is taking place this May of 2018. South Africa’s Department of Trade and Industry (DTI) leads a delegation of nineteen South African companies on a five-day Trade and Investment Mission (TIM) to Kenya and Tanzania between 21 – 25 May 2018, a Republic of South Africa Government statement has said.
The objective of the TIM is to deliver on the DTI’s investment-led trade approach towards the African continent and to deepen bilateral trade and investment relations between South Africa and Kenya, and between South Africa and Tanzania as important economies within their respective regions, The South African Department of Trade and Industry has said in the statement.
The Minister of Trade and Industry, Dr Rob Davies, has said the mission to Kenya and Tanzania will serve as a build-up on the success of a previous mission which the dti led to the two East African countries in 2017.
“The Mission will further serve as continuous economic engagement efforts by South Africa to ensure increased levels of bilateral trade and investment between South African and these two East African countries. In 2017, the mission outlined the vast opportunities that are available for South African companies in both markets, including the presence of South African goods and services in these high growths East African markets,” says Davies.
Davies adds that Kenya and Tanzania remain strategic and important trading partners for South Africa. He says expanding trade and investment relations between South Africa and Kenya is particularly important, with South Africa being the regional hub in Southern Africa and Kenya the regional hub in East Africa.
“The trade relations with Tanzania are equally important and beneficial. Tanzania is strategically located, with it ports serving as an entry point to the East African Community. This strategic advantage is therefore useful for South African companies seeking to penetrate the landlocked markets of Rwanda, Burundi, DRC and Uganda which are dependent on Tanzania’s port resources,” he says.
The sectors targeted for the mission are agriculture and agro-processing, chemicals, plastic and pharmaceuticals, infrastructure (such as roads, rail, bridges and ports), built environment professional services, electro-technical, steel fabrication, steel tubing, mining and capital equipment.
The programme for the TIM will include business seminars, business-to-business meetings and site visits.
Read related story here: Tanzania and South Africa to Expand Trade and Investment