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S. Africa to explore Brazilian market: minister

Xinhua, March 17, 2016 Adjust font size:

A South African delegation began a three-day trip on Wednesday to Brazil in a bid to explore the market there, Minister of Trade and Industry Rob Davies said.

The mission, known as the Investment and Trade Initiative (ITI), is to increase exports of value-added products to the Brazilian market, Davies said.

According to Davies, South African companies have made inroads into the Brazilian market, with select products being marketed by companies with a strategic and long-term perspective of the Brazilian market which have been able to penetrate and unlock long-term and sustainable exports.

"The ITI will focus on showcasing South Africa's diverse range of capabilities to produce world class products and services in the targeted sectors which include agro-processing (rooibos tea, dried fruits, spices, sauces, frozen fish and sparkling 100 percent fruit juice), industrial chemicals and automotive components," said Davies.

Davies also said South African companies have developed highly specialised skills and products and that there are various opportunities for South African companies to market their expertise and collaborate in projects with their Brazilian counterparts.

The programme of the ITI will include trade and investment seminar, business-to-business meetings and sector-specific business site visits to companies in São Paulo and Porto Alegre, said Davies.

The visit is seen as fresh efforts by South Africa and Brazil, two BRICS member states, to strengthening their cooperation to tide over their economic difficulties. Endit