Pretoria: Trade and Investment South Africa (TISA), a division of the Department of Trade and Industry (dti) and Investe Sao Paulo have entered into a cooperation agreement.
The agreement focusses on future investment promotion and facilitation into South Africa and the state of Sao Paulo in Brazil.
According to the dti, it is anticipated that the cooperation agreement will encourage South African and Brazilian businesses to collaborate and form joint ventures to reach new markets and also to enhance and share skills and best practices in the area of investment promotion and facilitation.
The initiative stems from a meeting between the delegations of the two organisations under the leadership of Pumla Ncapayi, the Deputy Director General of the dti responsible for trade and investment promotion, and Sergio Costa the Director of Investe Sao Paulo.
The Investment Trade Initiative, hosted in Sao Paulo, Brazil this week, was aimed at discussing and identifying various issues affecting trade and investment in South Africa and Sao Paulo.
Speaking at the meeting, Ncapayi said the dti was mandated to enhance trade and investment for South Africa and identify opportunities geared towards attracting Foreign Direct Investment and create job opportunities in the country.
“Brazil is an important partner for South Africa in many ways. Both countries face developmental challenges, compete in certain sectors especially advanced manufacturing and we also share the same position in a number of trade and investment issues,” Ncapayi said.
Ncapayi added that it was important to engage with key institutions like Investe Sao Paulo to collaborate and identify investment opportunities available in the markets not only for South Africa, but the African continent as a whole.
Sergio Costa said as an institution they identified areas for investment and therefore supported entrepreneurs to identify the best place in the State of Sao Paulo to invest, and also to provide specific and strategic information on the best condition to invest in the city.