SAnews.gov.za (Tshwane)

5 September 2014

South Africa: Companies to Profile Themselves in Indonesia, Singapore

Seventeen South African companies will take part in the Department of Trade and Industry's (dti)'s Outward Selling Mission (OSM) to Indonesia and Singapore later this month.

The OSM is one way in which South Africa can profile itself as an investment destination, according to Trade and Industry Minister Rob Davies.

The mission - which aims to create market access for South African value-added products and services in the South -East Asia market - will take place from 15-19 September.

"It is also an opportunity to profile South Africa as an investment destination. The choice of these two countries is informed by the dti's diversification strategy which aims to leverage market opportunities and ensure that South Africa's exports to dynamic high growth markets are facilitated," said Davies on Friday.

The companies will participate in trade seminars, business-to-business meetings and business site visits in both Indonesia and Singapore.

Besides agro-processing, which include seafood, fruit juice, canned fruit, flowers, nuts, wine and processed foods, other sectors which will be represented by companies on the mission are cosmetics, automotive parts, as well as yachts and components.

"Other than creating market access for the South African value-added products and services, the mission will also promote South Africa as an investment destination of choice," said Minister Davies.

South Africa is Indonesia's largest trade partner in Africa, which accounted for 22.18% of Indonesia's total trade with Africa in 2011.

Indonesia's GDP grew by 6.3% in 2007 and by 6.1% in 2008. Although growth slowed to 4.5% in 2009 given reduced global demand, Indonesia was the third-fastest growing G20 member, trailing only China and India.

Singapore is also one of South Africa's key trading partners in the South-East Asian region with a total bilateral trade that has increased from R17.6 billion in 2012 to R28.5 billion as at the end of 2013.

Between 2011 and 2013, South African exports to Singapore increased by 248%. Imports also increased by 132% in the same period.

South Africa and Singapore's total trade amounted to R28.5 billion in 2013.

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