The South African business delegation taking part in the Outward Trade and Investment Mission (OSIM) has arrived in Lagos, Nigeria for the second leg of the mission which aims to increase trade and investment between the two countries.

Speaking at a welcome ceremony in Lagos, the Chief Director of Trade and Invest Africa, Ms Zanele Sanni said the visit to Nigeria was aimed at South Africa forming continuous and sustainable economic relations with West African countries in order to advance industrial development and upgrade diversification along a growth path that addresses structural constraints in the economy, including unemployment and poverty.

“Nigeria is the biggest economy in Africa and one of the few countries that South Africa suffers a trade deficit with. The mission is therefore intended to penetrate the Nigerian market with South African manufactured products and to further exploit investment opportunities,” she said.

The Acting High Commissioner of South Africa in Nigeria, Mr Bobby Moroe welcomed the business delegation and said the South African government invests in international trade and investment missions in order to assist companies contribute in creating much-needed jobs for the country’s people.

“As representatives of the government of South Africa we are entrusted with the task of enhancing political and economic relations between the countries we are posted in and South Africa.  Our task is to promote cordial mutual bilateral relations that will enable us to position South Africa as a country of choice for bilateral trade and investment. It is the interaction between our political and economic relations that opens doors for our companies to engage in two-way trade and investment activities,” said Moroe
 
He added that the South African government invests in trade and investment missions because companies that participate in these missions are able to contribute in growing the economy of South Africa and creating jobs that the country needs very much.
 
The total value of trade between South Africa and Nigeria for 2017 amounted to R28.5 billion.
 
Sectors targeted for the mission are agro-processing and agribusiness, furniture and wood processing, infrastructure as well as the built environment professionals.  The programme for the mission will include trade and investment seminars, site visits and business-to-business meetings

 

Issued by Department of Trade and Industry