Trade and Industry Deputy Minister Bulelani Magwanishe

JOHANNESBURG  - South Africa's trade and industry department said on Thursday it was currently leading a mission of business people from the mining sector to Chile and Peru aimed at exposing local companies to export opportunities in the broader South American region.

It said the September 24-October 4 tour would allow the companies to introduce their products directly to their target market and help them build relationships with potential importers. 

“Chile’s open-market oriented and trade friendly environment has been particularly attractive to investors because of its upward economic growth pattern, established banking sector, relatively transparent regulatory environment and political stability,” deputy trade and industry minister Fikile Majola said in a statement.

The department said a similar multi-sectoral mission to Peru last year had resulted in 84 positive trade leads and on-the-spot export sales of R880,270.

“South African mining companies have made inroads into the Chilean and Peruvian markets, with select capital mining equipment products and mining services being marketed by companies with a strategic and long-term perspective of both markets which have been able to penetrate and unlock long-term and sustainable exports,” Majola said.

The current two-week programme will comprise a trade and investment seminar, business-to-business meetings as well as site visits in the targeted sectors of capital mining equipment and mining services which offer export opportunities for South African companies.

South African exports to Chile raked in R774 million in 2018 against imports of R2 billion. Exports to Peru were R413 million while imports totaled R710.8 million.

- African News Agency (ANA)