The Department of Trade and Industry is leading a South African delegation on an outward trade and invesment mission to Tanzania Monday.
The mission is expected to strengthen the already cordial relations between South Africa and Tanzania and increase bilateral trade and investment within the business community of the two countries.
Deputy Trade and Industry Minister Mzwandile Masina said Sunday that the mission was significant in view of the rapid economic growth which Tanzania had seen, driven particularly by infrastructure development, information communication technology and the construction sector in the past 10 years.
He said the mission was specifically aimed at building on the Bi-National Commission Agreement signed by the two countries in 2011 to prioritise economic co-operation through trade and investment and create job opportunities in the respective countries.
“It is worth mentioning that Tanzania ranks as South Africa’s 12th largest trading partner in Africa, with trade currently exceeding 6.0 billion Rand (about 405 million US dollars). However, the trade balance is skewed in South Africa’s favour,” he added.
“It is our objective that this mission will solidify our strategic partnership and pave the way for our business community to partner with Tanzania in establishing infrastructure such as roads, ports, renewable energy and mining.”
One of the 25 companies participating in the mission is keen to explore export opportunities to the east African country. Deltron Consulting Chief Executive Officer Chris Ndlovu said his company was keen to export its services or enter into joint ventures with prospective Tanzanian partners.
Deltron Consulting is a Gauteng Province-based, 100 per cent black-owned multidisciplinary engineering, procurement and construction management company with a national footprint and experience spanning Africa, Europe and the Americas.
Ndlovu said Deltron had recorded a substantial increase of its presence locally throughout the years which has seen it secure projects from major parastatals like Transnet, Eskom and major private companies like Anglo American.
The mission is being undertaken in line with the department’s Trade and Investment South Africa strategic outcome-oriented goal of building mutually-beneficial regional and global relations, to advance South Africa’s trade, industrial policy and economic development objectives.
Its programme comprises a trade and investment seminar, business-to-business meetings and site visits to prospective projects are underway in Tanzania. The mission is taking place from June 27 to July 8 to coincide with the Dar-es-Salaam Trade Fair.
Source: Nam News Network