2 June 2014
A 27-member South African business delegation departed on the weekend for a five-day outward selling and investment mission to Chile and Peru.
The delegation, sponsored and led by the Department of Trade and Industry (DTI), will participate in investment seminars, business-to-business meetings and site visits in the two South American countries, starting on Monday.
According to the DTI, the delegation is made up of representatives from South Africa’s agro-processing, engineering and construction, defence systems and mining sectors.
Trade and Industry Minister Rob Davies said in a statement last week that the DTI’s outward selling and investment missions sought to create market access for emerging and potential exporters by giving them exposure to international markets.
According to the DTI, South Africa is Chile’s largest trading partner in Africa. The country ranked 7th overall as an export partner and 6th overall as an import partner to Chile in 2013, while Chile ranked 73rd as an export partner and 64th as an import partner to South Africa.
“The trade balance between the two countries is currently in Chile’s favour,” Davies said. “A matter of concern is that South African imports from Chile have shown a considerable increase since 2007, with some variations over the years, and as a result the trade deficit is widening.”
Peru, for its part, ranked 90th as an export partner and 76th as an import partner to South Africa in 2012.