Johannesburg - The Department of Trade and Industry (dti) will lead a delegation of business people on an Outward Trade and Investment Mission (OTIM) to Kuwait and Qatar on Friday.
Minister of Trade and Industry Dr Rob Davies said in a statement that the objective of the OTIM was to create a platform for South African value-added products and services to establish themselves in the Middle Eastern market.
“The mission to Kuwait and Qatar will provide South African companies with an opportunity to make inroads into the Gulf States that have a propensity to consume large quantities of high quality niche products as well as enable South Africa to diversify its export basket,” said Davies.
“Taking cognisance of the increased trade deficit with oil countries like Kuwait and Qatar, it would be important to focus on higher value-added exports to the region”.
Davies said the Middle East, one of the world’s fastest-growing markets for manufactured products and services, holds great potential for South Africa as an export market. He said the region also serves as a potential strategic source of foreign direct investment.
“South African companies will also be able to introduce their products directly to their target markets, and also network and build relationships with potential importers that will benefit both these companies and the country in future,” said Davies.
ANA