The Department of Trade and Industry (DTI) is leading a delegation of 25 South African businesspeople to participate in the sixth Investment and Trade Initiative (ITI) to Moscow and Novosibirsk, Russia, from March 23 to 27.
The initiative would comprise investment seminars, business-to-business meetings and site visits to expose the delegation to “the way the Russians do business”.
“[This initiative aims] to strengthen trade relations between South Africa and that country, especially since the two countries are members of Brics [Brazil, Russia, India, China and South Africa.]
Trade and Industry Deputy Minister Mzwandile Masina said, “This trade mission is an opportunity to advance South Africa’s export and investment agenda in the sectors of agriculture and agroprocessing, [as well as] food-related products.”
He further noted that the trade mission would provide a platform to promote South African products to potential new customers, while obtaining new business and penetrating new markets.
South Africa’s participation would also have a positive impact in terms of increasing export sales to and joint ventures with Russia.
“The purpose of the ITI is to advance South Africa’s export and investment agenda in Russia and to strengthen commercial and economic relations between the two countries,” Masina stated.
He explained that the immediate opportunities for South African suppliers to Russia would increasing the export of fresh produce, adding that, with an already established export base of over $250m a year for fresh fruits, especially citrus, South Africa could easily expand to fresh vegetables through the existing export networks.