JOHANNESBURG - South African
companies will embark on a mission to woo Russian investors with their products
and services.
The Department of Trade and
Industry (dti) will lead a business delegation on the 10th Investment and Trade
Initiative (ITI) to Russia to be held in Novosibirsk from 24-26 October 2017.
Trade and Industry Minister
Rob Davies said the objective of the ITI is to develop and build on
relationships that were established with previous visits by both countries and
to expose and showcase South African value-added products and services to the
Russian market.
“Additionally, the
initiative also seeks to follow up and capitalise on the potential
collaboration on the proposed BRICS projects. This opportunity will also be a
step further in creating market penetration for South African value-added
products and services in Russia, and to promote South Africa as a trade and
investment destination. The immediate opportunities for South African supplies
will be in the increase of exports of fresh produce to Russia,” said Minister
Davies.
He added that with an
already established export base of over R3.4 billion a year for fresh fruits,
especially citrus, there is a vast opportunity to expand to fresh vegetables
through the existing export network.
“This ITI will also provide
an opportunity for South African companies to identify new areas of
collaboration in various sectors, particularly in the area of investment,” said
Minister Davies.
The Minister said there is
an increased demand of South African wines in Russia. During last year’s ITI to
Moscow, export sales of R1.5 million were generated six months after the event,
a large percentage attributed to wine exports.
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The dti said more South
African wines are expected to find their way to Russia after a visit to Cape
Town last week by Russian wine importer Andre Kuzmin who is the Chief Executive
Officer of a leading Russian wine buying company, Marine Express.
Kuzmin, who came to South
Africa at the invitation of the Deputy Minister Bulelani Magwanishe, met with a
group of black wine producers with the aim of eventually importing their
products.
The ITI will include
targeted business-to-business meetings, site visits, as well as investment and
export-related round-table discussions with a particular focus on sectors where
South Africa has comparative and competitive advantages.