South Africa and the United Arab Emirates is expected to host a virtual trade and investment webinar, the South African department of trade, industry and competition (dtic) said on Saturday. Photo: Supplied.
Cape Town - South Africa and the United Arab Emirates is expected to host a virtual trade and investment webinar, the South African department of trade, industry and competition (dtic) said on Saturday.
The dtic said the webinar on Monday would be in collaboration with the South African Consulate General in Dubai, the South African Fruit & Vegetable Canners Association (SAFVCA) and the Fresh Produce Exporters’ Forum of South Africa (FPEF).
Dtic Deputy Minister, Fikile Majola, said that the webinar is aimed to deepen the relationship South Africa has with the United Arab Emirates (UAE) and would expose exporters to the UAE market opportunities relating to food and beverages.
“The UAE remains a strategic trading hub for South African agricultural products as well as agro-processing,” Majola said.
“It is therefore important as a country to continuously expose our exporters in the broader Middle East region to expand their fresh produce and increase their footprint.”
Majola said South Africa and the UAE have maintained a good relationship since formal diplomatic ties were first established in 1994.
The relationship has a strong economic focus and the UAE was a lucrative export market for South Africa products, he said.
South African President Cyril Ramaphosa undertook a state visit to the UAE in July 2018 to assess the status of the bilateral relations, particularly in terms of increasing investment into South Africa.
Ramaphosa held a bilateral meeting with Sheikh Mohammed Bin Zayed Al Nahyan. Majola said one of the most important outcomes of their discussions was the UAEs commitment to investing U$10 billion in various sectors of the South Africa economy over five years.
“Both countries reaffirmed their commitment to further strengthen bilateral relations in areas such as trade and investment, transport, infrastructure development, tourism and mining,” he said.
“In this regard, the dtic will be coordinating relevant stakeholders to strategise and identify projects that could be funded by the U$ 10 billion pledged by the UAE.”
Majola added that a match-making service would be provided for South African companies after the event.
Total trade between South Africa and the UAE amounted to R44. 7 billion in 2020.
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