35 SA companies Zim-bound

HARARE - Thirty-five South African companies are expected in the country for the fourth Investment and Trade Initiative (ITI) led by the country’s trade and industry deputy minister Elizabeth Thabethe.

The delegation will comprise of companies in sectors such as agriculture, agro-processing infrastructure, manufacturing, mining and mining capital equipment, as well as Information and Communication Technology (ICT) seeking to export South African value-added products and services or to establish joint venture partnerships with Zimbabwean companies.

“The third ITI to Zimbabwe which took place in March this year was a success. It confirmed that Zimbabwe continues to be an important export destination for South African value-added products. This is evident from the export sales amounting to R22 million recorded at the event by the South African companies who were part of the initiative. Export orders to the total value of R107 million were expected to be finalised within a year of the event,” Thabethe said.

“The South African businesspeople had an opportunity to discuss business matters, potential deals and partnerships with the 260 businesspeople from Zimbabwe who attended the business seminars and business-to-business meetings. A total number of 200 trade leads were obtained.”

The minister said South African companies had identified vast opportunities in the country which should translate into exports of South African products to Zimbabwe, while some companies indicated that they would be signing long-term contracts to supply their product.

She said the initiative will aim to align itself with the recently-launched industrial policy which prioritised sectors such as agriculture and agro-processing, energy, infrastructure, manufacturing, mining, tourism, social services, telecommunications and energy.

“The South African government is committed to the Economic Development and Short-Term Economic Recovery Programme  of Zimbabwe and we are confident that the ITI will go a long way in enhancing economic cooperation with Zimbabwe,” said Thabethe.

The ITI is part of the SA’s Trade and Industry’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 promoting South Africa as a trade and investment destination.

The programme of activities includes exhibitions in cities, sectoral round-table discussions, business-to-business meetings and site visits, providing opportunities to create market penetration for South African value-added products and services in Zimbabwe and joint venture partnerships between companies from both countries.

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