Finance

SA companies explore opportunities in Peru. Local companies are to explore trade and investment opportunities…

Thursday, August 30, 2018

Local companies are to explore trade and investment opportunities in Peru as part of the Department of Trade and Industry’s (dti) Outward Selling Mission to that country.

Minister Rob Davies said the mission forms part of the dti’s efforts to strengthen bilateral trade relations and increase trade and investment between South Africa and Peru.

“This is the fourth mission to Peru the dti has organised since the technical scoping mission that the dti undertook to Peru in 2013. This was aimed to scope the market and identify trade and investment opportunities for South African products and services,” said Davies, ahead of the mission.

Previous missions to the western South American country have been successful in creating awareness about South African products and services.

“It has also sparked market interest in complementary products and services in the region. The last mission which took place in 2016 resulted in 84 positive trade leads that were generated by the companies which participated in the mission,” said the Minister of the visit to Lima.

The mission will see local companies in the sectors of agro-processing, capital mining equipment and mining services, seek out opportunities in that country.

The companies’ participation in the mission is funded by the dti through its Export Marketing and Investment Assistance (EMIA) scheme. The objective of the scheme is to develop export markets for South African products and services and to recruit new foreign direct investments into the country, aligned to the President’s investment drive.

“The mission to Peru will provide the South African companies with an opportunity to penetrate not only Peru but the Latin American market which is not only about Brazil, but more about the Pacific Alliance, a trade bloc that includes Chile, Colombia, Peru and Mexico. The bloc offers greater export and investment opportunities.

“Although Peru is smaller in comparison to Brazil, together with Colombia and Panama, present the best growth and market expansion opportunities in South America and the Caribbean,” said Davies.

The programme of the mission will include a trade and investment seminar, business-to-business meetings and site visits to Lima-based companies operating in agro-processing, capital mining equipment and the mining services sectors.

The mission will afford South African companies with the opportunity to introduce their products directly to their target market and key industry players including importers, distributors and major retailers.

Bilateral trade between South Africa and Peru has shown a significant growth as it has increased from R827 million in 2016 to almost R1.5 billion in 2017.

The mission will conclude on 6 September. – SAnews.gov.za