SA trade, investment team in Russia

15 February 2011

South African business leaders and government officials arrived in Moscow on Monday for a three-day visit to boost trade and investment between Russia and South Africa.

Department of Trade and Industry acting deputy director-general Riaan le Roux said there was huge scope to increase trade between the two countries.

“There is enormous potential for Russia and South Africa to grow our business links from aerospace and agriculture to energy,” Le Roux said in a statement.

“I am delighted that South Africa is now a part of this winning team.”

The trade and investment initiative runs from Tuesday to Thursday and will include an exhibition and “sector-specific investment seminars”.

The visit aims to strengthen partnerships between Russia and South Africa through joint ventures, technology transfer and skills sharing.

It will also showcase products and services in Russia and South African markets.

Total trade turnover between South Africa and the Russian Federation increased by 6.42 percent in 2009, from US$484-million to $517-million.