Trade and Investment South Africa (TISA), a division of the Department of Trade and Industry (the dti) and Investe São Paulo have entered into a cooperation agreement on future investment promotion and facilitation into South Africa and the state of Sao Paulo. The agreement emanates from a meeting between the delegations of the two organisations under the leadership of Ms Pumla Ncapayi, the Deputy Director-General of the dti responsible for trade and investment promotion, and Mr Sergio Costa the Director of Investe São Paulo, during the Investment Trade Initiative hosted in Sao Paulo, Brazil, this week.
The purpose of the meeting was to discuss and identify various issues affecting trade and investment in South Africa and the City of São Paulo, Brazil.
It is anticipated that the cooperation agreement will also encourage South African and Brazilian businesses to collaborate and form joint ventures to reach new markets and also to enhance and share skills and best practices in the area of investment promotion and facilitation
Speaking at the meeting, Ms Ncapayi said the dti was mandated to enhance trade and investment for South Africa and identify opportunities geared towards attracting foreign direct investment (FDI) and create job opportunities in the country.
“Brazil is an important partner for South Africa in many ways. Both countries face developmental challenges, compete in certain sectors especially advanced manufacturing and we also share the same position in a number of trade and investment issues,” said Ncapayi.
Ncapayi added that it was important to engage with key institutions like Investe São Paulo to collaborate and identify investment opportunities available in the markets not only for South Africa, but the African continent as a whole.
Sergio Costa said as an institution they identified areas for investment and therefore supported entrepreneurs to identify the best place in the State of São Paulo to invest, and also to provide specific and strategic information on the best condition to invest in the city.