South Africa: SA, Ethiopia to Host a Virtual Trade Investment Seminar

24 November 2020

The Department of Trade, Industry and Competition (dtic) will host a virtual Outward Trade and Investment Mission with Ethiopia this week.

The department says the objective of the seminar, which will take place from 25 - 26 November, is to increase bilateral trade and investment between South Africa and Ethiopia.

"The mission is an ideal platform for South African companies that would like to export value-added products to Ethiopia, as well as those that would like to pursue investment opportunities in the East African country," said dtic Deputy Minister, Nomalungelo Gina.

Gina said South Africa's exports to Ethiopia are diversified, covering a number of the department's re-imagined industrialisation policy sectors.

"This presents potential to increase the volume of value-added products, as well as investments in Ethiopia by South African businesses looking to expand their footprint into the largest market in East Africa."

Agricultural products, chief among these, are coffee and spices, which dominate the country's imports from Ethiopia.

Gina believes that South Africa's exports to Ethiopia in 2019 indicate demand and potential for exports expansion, and investment in industrial and agriculture sector inputs.

Meanwhile, the targeted sectors for the trade and investment webinar are agro-processing; chemicals and pharmaceuticals; energy and electro-technical, and footwear and leather products.

"A Memorandum of Understanding between South Africa and Ethiopia was amended in 2015 to allow for the establishment of a Joint Trade Committee (JTC). One of its tasks is to facilitate structured and regular engagements to discuss trade and economic issues, as well as address any market access issues," said Gina.

According to the Deputy Minister, the Trade Invest Africa Chief Directorate is assisting the South African business community to establish and expand its presence on the African continent.

More From: SAnews.gov.za

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