The Deputy Minister of Trade and Industry, Fikile Majola is leading a of 25 South African business representatives on an Outward Trade and Investment Mission (OTIM) to Luanda, Angola from 9-13 September 2019.
According to the Deputy Minister, the mission seeks to promote South African manufactured goods with also the emphasis on creating partnerships between the business communities of the two countries.
Relations between the two countries have also always been frosty under former President Thabo Mbeki’s administration. However, since 2009, both countries enjoyed an increase in trade cooperation. From 2009-2012, Angolan imports into South Africa were valued at R22,5 billion whilst South Africa’s exports to Angola valued at R9,7 billion.
Currently, South Africa and Angola enjoy strong bilateral relations, with total trade amounting to the value of R23 billion in 2018
“As Angola seeks to expand its industrialisation process and diversify its economy from its historic dependence on oil, the dti’s intention is to position South Africa as a preferred trade and investment partner through structured, focused and sustained commercial engagements in the targeted sectors of this mission,” said Majola.
The agro-processing sector is set to benefit from this mission. South Africa exported animals, vegetables, pre-cooked food, mineral, chemical, plastics, rubber, leather, animals’ skin and its derivates, wood, textile products, shoes and umbrellas among others to Angola.