While South African and Brazilian political and business relations are solidly grounded, there remains a huge untapped potential in trade and investment between the two countries, says Deputy Trade and Industry Minister Elizabeth Thabethe.
“Both Brazil and South Africa have globally competitive expertise and products in a range of value-adding sectors which we are sharing with global trading partners, but not necessarily yet with each other,” Thabethe said.
“As such we are keen to further enhance bilateral trade by also looking at developing complementarities and increasing bilateral sales of value-added goods. It is in the area of value added trade where substantial returns can be found.”
Thabethe told the Brazilian business delegates on Tuesday that South Africa was not only a vibrant and growing economy, but also a unique base for doing business on the African continent.
“South Africa has well developed infrastructure and telecommunications as well as a strong banking and financial systems. In addition, South African companies have developed skills and expertise in operating on the continent, while our financial institutions are experienced in funding projects and operations in various African countries.”
African countries continue boast the fastest-growing markets in the world, Thabethe said, with a young population of close to one billion, constituting the new frontier in consumer growth.
Read the full article at allafrica.com.
