27 May 2013
The Department of Trade and Industry (DTI) is partnering with the Bank of Tokyo-Mitsubishi United Financial of Japan to host seminars in Yokohama this week to promote Japanese investment in South Africa.
According to Trade and Industry Minister Rob Davies, the seminars are a follow-up on a memorandum of understanding (MOUs) signed by the DTI and the bank in February.
The DTI said in a statement on Monday that other MOUs would be signed with other institutions this week aimed at providing Japanese companies with market intelligence to help them to establish businesses in South Africa.
“The business seminars will give a chance to South African businesses to have bilateral business interactions with their counterparts in Japan.”
Davies said South Africa was looking to promote more value-added exports from South Africa so as to diversify the country’s trade away from traditional resource-related products.
To this end, South Africa would be promoting manufactured goods in sectors such as agro-processing, automotives, clothing, leather and textiles, metals beneficiation, chemicals and pharmaceuticals.
He added that Japan was an important export destination for South Africa. “Japan is South Africa’s third-largest export destination, and an important traditional trading partner.
“According to information from Japan External Trade Organisation, South Africa ranks either first, second or third as Japan’s source in the world for imports of preserved pears, preserved apricots, grapefruit, prepared peaches, ground nuts, motor cars of a capacity less than 1 500cc, cane sugar, oranges, rock lobster, macadamia nuts, apricots and juices.”
The DTI will also participate in the African Fair 2013, the biggest business event related to Africa in Japan, taking place during the upcoming Tokyo International Conference on African Development Summit.
“High-end items such as Rooibos espresso, Fairtrade wines and Wedgewood nougat will be showcased to appeal to the sharp Japanese palette,” Davies said. “Artwork from Ardmore Ceramics as well as Carrol Boyes design items, among others, will be exhibited during the Fair.”