Pretoria - Twenty-five companies are on their way to the Democratic Republic of Congo (DRC) in search of investment and export opportunities.
The Department of Trade and Industry (dti) will lead the business representatives on an Investment and Trade Initiative (ITI) to Kinshasa and Lubumbashi later this week.
The business delegation comprises companies in the agriculture and agro-processing, infrastructure, built environment, energy, mining and capital equipment, electro technical and medical equipment, solutions and supplies sectors.
The ITI is part of government’s Export and Investment Promotion Strategy that focuses on targeted high growth markets with the objective of creating investment and export opportunities for South African companies and of promoting South Africa as a trade and investment destination.
Planned activities during both legs of the ITI, which kicks off on Sunday, include business seminars, mini-exhibitions and business-to-business meetings.
“The ITI to DRC will strengthen cooperation between the business communities of both countries through the possible formation of joint ventures and partnerships,” said Minister Rob Davies on Tuesday.
The DRC is a strategic country for South Africa, with a domestic market estimated at 75 million people and bordered by nine countries with a potential market of 200 million consumers and it presents the largest market for South African products and services in Sub-Saharan Africa.
“South Africa’s post-conflict reconstruction strategy for the DRC includes infrastructure rehabilitation and development as well as the facilitation of investments into the DRC economy by South African entities.
South Africa’s participation in the reconstruction and development of the DRC can be achieved by continuous engagement through government to government engagement and exposing South African companies to the DRC market to explore opportunities that exist. The DRC presents a wealth of opportunities in sectors like agriculture, construction, energy, ICT, transport and retail for South African companies,” said the Minister.
Trade relations between SA and the DRC have shown positive growth from a relatively low base, with bilateral trade being heavily skewed in South Africa’s favour due to limited productive capacity on the part of the DRC’s economy. South Africa is the DRC’s biggest supplier of foreign goods and services, providing more than 21% of the country’s total imports.
In 2013, South Africa’s exports to the DRC amounted to R12.3 billion, while its imports from the DRC amounted to R100 million. - SAnews.gov.za
