JOHANNESBURG - The Deputy Minister of Trade and Industry, Bulelani Magwanishe announced that South Africa would draw expertise in its advanced Company Law to share lessons with Cuba which is in the process of reorganising its Companies Act.
Deputy minister of the dti Bulelani Magwanishe made the announcement during the official launch of the South African Pavilion at the Havana International Fair that took place on Tuesday. He said literature, research and analysis will be shared to enhance this process.
“South Africa seeks cooperation in the areas of agro-processing, infrastructure development, mining, telecommunications and pharmaceutical sectors to name a few. Manufacturing is also a critical sector of our economy and cannot be underestimated, due to its multiplier effects in employment creation and investment projects,” Magwanishe said.
Magwanishe added that South Africa’s establishment of Special Economic Zones (SEZs) offers unparalleled opportunities for Cuban investment and participation.
“Therefore, opportunities for investment, participation and partnership in the SEZs and Black Industrialists Programme is welcomed for consideration by Cuba. The South African government pledges its honour to call upon Cuban enterprises to be preferential stakeholders in the above-mentioned opportunities. I am confident that our trade and investment relationships will grow from strength to strength in order to meet developmental goals of our economies,” said Magwanishe.
Read also: Trump can't lecture Cuba on human rights
The Deputy Minister of Foreign Trade and Investment in the Republic of Cuba, Ileana Nunez Mordoche said that the support South Africa has given Cuba through the Economic Assistance Agreement has enable the country to purchase pneumatic tyres, plastic resin and vegetable seeds under the package.
“The experiences we possess should serve as a starting point where we strengthen our trade relations. We are aware of your meeting Gecomex which is our leading tyre importer and we assure you our support to continue business relations in Cuba and pledge our support to you,” Mordoche said.
- BUSINESS REPORT ONLINE