(MENAFNEditorial) PRETORIA, South Africa, May 24, 2018/APO Group/ --
The South African business delegation has arrived in Dar es Salaam, Tanzania for the second leg of the Trade and Investment mission that is led by the Department of Trade and Industry (the dti) from 23 25 May 2018. The aim of the mission is to increase trade and investment between the two countries.
The Director of Trade Invest Africa, Ms Kwanda Modise says Tanzania is an important market in that the Tanzanian government's current focus on scaling up the industrialisation of the economy, with emphasis on manufacturing and agro-processing, aligns with one of South African government's strategic objectives which is to focus on outward investment drive on collaborating with its African trading partners in their industrialisation.
'This mission, which will remain an important annual business initiative for our government will not only present lucrative business opportunities to the business delegation. It will demonstrate to the Tanzania private sector that South Africa's intention is to pursue mutually beneficial trade and investment that results in the increased competitiveness of both Tanzanian and South African industries, says Modise.
The Head of Business Development of A-M Consulting Engineers, in Midrand Gauteng, Mr Givon Van Eyck says his key role for his company in Tanzania, is to look at the expansion of the business, growth in the regional and African footprint.
'We are an engineering company looking at opportunities in the built environment, transport, housing, energy sectors and any opportunity that is of interest into neighbouring countries. We are also looking at expanding into East Africa hence our core interest in Kenya and Tanzania markets and surrounding neighbours, says Van Eyck.
He adds that, this is why the Trade mission is important to ascertain key role players in the markets and also understanding the appetite for business in neighbouring countries.
'We do however, foresee partnership collaboration with project financing being one of the weak points for expansion of South African businesses. We looking at collaborations and identifying those opportunities within the next 12 18 months so that they can be utilised into bankable projects, which could see us expand into Africa, he said.
South Africa is a major player in the Tanzania economy through the presence of about 180 South African companies. South Africa is ranked in the top 10 of countries investing in Tanzania, rivalling traditional trading partners such as the United State of America, United Kingdom, Netherlands, India, China and Kenya.
The programme for the Tanzania TIM will include business seminars, business-to-business meetings, networking sessions and site visits.
Distributed by APO Group on behalf of The Department of Trade and Industry, South Africa.
MENAFN2405201800701784ID1096904562
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.