Pretoria - A delegation of South African businessmen and women would be visiting the Central African states of Gabon and Cameroon on an Outward Trade and Investment Mission, the Department of Trade and Investment said on Friday.
The department said the delegation, which would consist of 23 local businesses, would depart for the two countries next week.
Minister of Trade and Industry Rob Davies said the visit was aimed at “increasing and strengthening South Africa’s trade and investment relation with Gabon and Cameroon”.
South Africa has a signed Bilateral Trade Agreement with Cameroon, and an Agreement for the Reciprocal Promotion and Protection of Investment with Gabon, said Davies.
Furthermore, he added that Cameroon and Gabon, which are located within the Economic Community of Central African States, would open investment and trade opportunities for South African businesses within this bloc.
While South Africa may import oil from Gabon, Davies said the country “lacks a strong presence” in Gabon and Cameroon. He added that the delegation’s visit to these two countries would enable businesses to “forge partnerships and joint-ventures” within the countries that would facilitate penetration into the Central African market.
The businesses participating in the trade mission are experienced in the agriculture, agro-processing, mining, capital equipment, infrastructure, built environment and electro-technical sectors.
“We are also hoping that the interactions and exchanges they will be engaging in with their counterparts will lead to tangible leads and opportunities for their businesses. This mission is also in line with the Dti’s objective of promoting intra-Africa Trade,” said Davies.
Davies added that trade statistics also indicate that South Africa has been experiencing significant trade surplus with Cameroon, while Gabon has been experiencing trade surplus with South Africa due to South Africa’s import of oil from Gabon.
The trade delegation would visit Cameroon and Gabon from November 23-27, and attend the inaugural Cameroon Investment Forum, which is scheduled to take place from November 25-27.
African News Agency