The Department of Trade and Industry (dti) has invited companies to participate in the Outward Selling and Investment Mission to Singapore and Malaysia that will take place in August.
The mission, which will take place from 17-21 August 2015, aims to create and expand the bucket of exports to these Asian countries.
This mission targets manufacturers and exporters in the sectors of agro processing and oil and gas services.
“The dti invites companies to participate in this mission by applying for financial assistance through its Export Marketing and Investment Assistance scheme (EMIA) by the 19th June 2015.
According to Minister Rob Davies, the mission forms part of the dti’s objective of creating and identifying export markets for South African value-added products and services in South East Asia.
He said it serves to also promote South Africa’s product and service offerings in high growth Asian markets.
“South Africa’s export basket to Singapore in 2014 totalled R9.2 billion and was dominated by chemical products, animal products, ceramic products, machinery and mechanical appliances. Imports from Singapore amounted to R19.7 billion, dominated by textile articles, mineral products, manufactured articles and base metal articles,” said Minister Davies.
In 2014, South African exports to Malaysia increased by 5% and were valued at R6.8 billion.
Minister Davies said Malaysia and Singapore economies are abound with opportunities for South African manufactures in the agro-processing and services sectors, and that Singapore imports an estimated 90% of its food requirements and its free trade port serve as an enabler for product re-export into neighbouring Association of Southeast Asian Nations (ASEAN) countries.
“Malaysia is a key trading and investment partner for South Africa in South East Asia partly due to g historical and cultural links between the two countries, bilateral trade and people-to-people co-operation remain important areas in our relations,” he explained.
The dti has planned a programme of activities, which will include a trade and investment seminar, mini exhibitions and business-to-business meetings for participating companies in the two countries.
Source : SAnews.gov.za