According to SAnews.gov.za The Department of Trade and Industry will on Monday lead a business delegation on an Outward Selling and Investment Mission (OSIM) to Tanzania.
The mission is expected to strengthen the already cordial relations between South Africa and Tanzania and increase bilateral trade and investment within the business community of the two countries.
Deputy Minister Mzwandile Masina said this mission is of significant importance in relation to the rapid economic growth that Tanzania has demonstrated, driven particularly by infrastructure, information communication technology and the construction sector in the past 10 years.
The Deputy Minister said the mission – in which 25 local businesses will partake – is specifically aimed at building on the Bi-National Commission (BNC) Agreement signed by the two countries in 2011 to prioritise economic cooperation through trade and investment and create job opportunities in the respective countries.
“It is worth mentioning that Tanzania ranks as South Africa’s 12th largest trading partner in Africa, with trade currently exceeding R6bn. However, the trade balance is skewed in South Africa’s favour with a trade surplus of R6,5bn.
“It is our objective that this OSIM will solidify our strategic partnership and pave the way for our business community to partner with Tanzania in establishing infrastructure such as roads, ports, renewable energy and mines,” explained Deputy Minister Masina.
One of the companies that will be participating in the OSIM is keen to explore export opportunities to the east African country.
Deltron Consulting Chief Executive Officer, Chris Ndlovu, said his company is keen to export its services or enter into joint ventures with prospective Tanzanian partners.
“Opportunities presented by this Outward Selling and Investment Mission appeal to our vision of aspiring to be a global benchmark service provider that will make an impact in Africa and beyond.
“We look forward to learning about the corporate culture and ways of doing business that exist in Tanzania. We will also take advantage of all the exchanges that we will form part of and pursue any prospective leads we may come across,” said Ndlovu.
Deltron Consulting is a Gauteng-based, 100% black-owned multidisciplinary engineering, procurement and construction management company with a national footprint and experience that spans throughout Africa, Europe and the Americas.
Ndlovu said Deltron has recorded a substantial increase of its presence locally throughout the years which has seen it secure projects from major parastatals like Transnet, Eskom and major private companies like Anglo American.
The OSIM is aligned to the dti’s Trade and Investment South Africa’s (TISA) unit’s strategic outcome-oriented goal of building mutually-beneficial regional and global relations, to advance South Africa’s trade, industrial policy and economic development objectives.
The mission’s programme will comprise of a trade and investment seminar, business-to-business meetings and site visits to prospective projects that are underway in Tanzania.
The OSIM, which will conclude on 8 July, will take place on the sidelines of the Dar Es Salaam Trade Fair.