DTI leads trade initiative to DRC

Twenty-five companies are on their way to the Democratic Republic of Congo (DRC) in search of investment and export opportunities.



The Department of Trade and Industry (dti) will lead the business representatives on an Investment and Trade Initiative (ITI) to Kinshasa and Lubumbashi later this week.



The business delegation comprises companies in the agriculture and agro-processing, infrastructure, built environment, energy, mining and capital equipment, electro technical and medical equipment, solutions and supplies sectors.



The ITI is part of government's Export and Investment Promotion Strategy that focuses on targeted high growth markets with the objective of creating investment and export opportunities for SA companies and of promoting SA as a trade and investment destination.



Planned activities during both legs of the ITI, which kicks off on Sunday, include business seminars, mini-exhibitions and business-to-business meetings.



"The ITI to DRC will strengthen cooperation between the business communities of both countries through the possible formation of joint ventures and partnerships," Minister Rob Davies said yesterday (Tuesday).



The DRC is a strategic country for SA, with a domestic market estimated at 75 million people and bordered by nine countries with a potential market of 200 million consumers and it presents the largest market for SA products and services in sub-Saharan Africa.



SA's post-conflict reconstruction strategy for the DRC includes infrastructure rehabilitation and development as well as the facilitation of investments into the DRC economy by SA entities. Participation in the reconstruction and development of the DRC can be achieved by continuous engagement through government to government engagement and exposing SA companies to the DRC market to explore opportunities that exist.



"The DRC presents a wealth of opportunities in sectors like agriculture, construction, energy, ICT, transport and retail for SA companies," Davies added.



Trade relations between SA and the DRC have shown positive growth from a relatively low base, with bilateral trade being heavily skewed in SA's favour due to limited productive capacity on the part of the DRC's economy.



SA is the DRC's biggest supplier of foreign goods and services, providing more than 21% of the country's total imports. In 2013,



Exports to the DRC amounted to R12.3 billion, while imports from the DRC amounted to R100 million.



Source: SAnews.gov.za and allAfrica.com