Pretoria - Awareness of business opportunities in South Africa will come to the fore at investment seminars that the Department of Trade and Industry (dti) in partnership with The Bank of Tokyo-Mitsubishi United Financial of Japan (UFJ) will host in Japan this week.
The seminars will take place in Yokohama, Japan from 28 – 30 May 2013.
“The business seminars will give a chance to South African businesses to have bilateral business interactions with their counterparts in Japan,” dti Minister Rob Davies said on Sunday.
The seminars are a follow-up on the Memorandum of Understanding (MoU) signed between the dti and the bank in February this year. The aim of the MoUs is to increase foreign direct investment from Japan into South Africa by supporting Japanese clients with market intelligence that will assist them to establish businesses locally.
Speaking to SAnews, dti Director General Lionel October, who witnessed the signing of the MoU said that South Africa had seen an increase in Japanese investment into the country.
“We now want to expand, using South Africa as the base into the African continent. We want to cooperate in terms of exports into the continent as a joint venture between South Africa and Japanese companies,” said October at the signing ceremony in February.
More MoU’s will be signed with other institutions.
South Africa’s export objectives to Japan aims to promote more value-added products from South Africa, and diversify the trade balance away from traditional resource related products. This would be done by focussing on manufactured goods in sectors such as agro processing, automotives, clothing, leather and textiles, metals beneficiation, chemicals and pharmaceuticals.
Japan is an important export destination for South Africa. It is the third largest export destination for South Africa as well as an important traditional trading partner.
“According to information from Japan External Trade Organisation (JETRO), South Africa ranks either first, second or third as Japan’s source in the world, of imports of preserved pears, preserved apricots, grapefruit, prepared peaches, ground nuts, motor cars of a capacity less than 1500 cc, cane sugar, oranges, rock lobster, macadamia nuts, apricots and juices, etc,” said Davies.
Meanwhile, the dti will also participate in the African Fair 2013 that will take place during the Tokyo International Conference on African Development (TICAD) V Summit. The Fair is the biggest business event related to Africa in Japan and aims to promote African exports to Japan by exhibiting African products and by encouraging bilateral business interactions between Africa and Japan.
“High-end items such as Rooibos espresso, Fairtrade wines and Wedgewood nougat will be showcased to appeal to the sharp Japanese palette. Artwork from Ardmore Ceramics as well as Carrol Boyes design items, among others, will be exhibited during the Trade Fair,” said Davies. –SAnews.gov.za
