Pretoria - South Africa and Benin have agreed to the establishment of a SA-Benin Chamber of Commerce which will promote the economic viability of both countries, the Department of Trade and Industry (dti) said.
At a South Africa-Benin Joint Trade and Investment Committee (JTIC) held on Wednesday, the two countries resolved to strengthen and consolidate business relations.
Incoming chairperson of the JTIC Sindiswa Mququ said the chamber of commerce will promote the economic viability of both countries so that existing businesses will grow and new ones will be developed.
“As South Africa, we have identified five development projects in Benin which are port refurbishment, rail refurbishment, building Glo Djigbe International Airport, agro-processing and SEDA-ANPME collaboration which will be the centre of focus during the current financial year,” said Mququ.
Following the JTIC, a business seminar was held where South African Ambassador to Benin Chief Gladstone Gwadiso urged businesspeople to explore business opportunities in Benin.
“Benin supported South Africa during the struggle against apartheid and mutual cordial relationships between the two countries existed long before South Africa’s democracy. Businesspeople from the two countries need to take advantage of this relationship and work together to explore opportunities that exist in South Africa and Benin,” said Gwadiso.
He added that trade, investment and joint ventures among businesspeople will enhance the economies of both countries and therefore it would be beneficial for businesspeople in these SA and Benin to work together to ensure that such opportunities are explored.
The Director-General of Benin Trade Transactions Promotions Agency (ABePEC) and Co-Chair of the JTIC Robert Akinde said that South Africa was important to Benin and that his country is eager to invest in and have cooperation with South Africa.
“There are investment opportunities in transport logistics and trade, textile, agro processing, oil produce, energy, tourism and maize sectors amongst others and we urge you to come to Benin and invest,” said Akinde.
Akinde said that Benin was in serious need of cement and building materials amongst others and that it would be beneficial for South Africa to come in and invest in the country. He further added that Benin was willing to assist companies that are ready to import to the country.
Total trade between South Africa and Benin increased by 51% in 2011 and 2012. South Africa’s exports increased by 37% while imports increased by 13.7% during the same period. - SAnews.gov.za
