Dti to lead an outward trade and investment mission to Peru
The objective of this OTIM is to create a platform for South African value-added products and services to enter the Latin American market, and encourage investments and joint ventures between the South African and Peruvian companies
MBOMBELA- The Department of Trade and Industry (the dti) will be leading a delegation of 18 businesspeople on an Outward Trade and Investment Mission (OTIM) to Peru from May 22 to May 30.
According to minister Dr Rob Davies, the objective of this OTIM is to create a platform for South African value-added products and services to enter the Latin American market, and encourage investments and joint ventures between the South African and Peruvian companies.
“Peru shows high export potential for South African products and services. The OTIM is a result of the scoping mission that officials from our trade and investment division undertook to the country in July 2013. The objective of the technical visit to Peru was to scope the market and identify trade and investment opportunities for South African products and services, including opportunities for joint ventures on infrastructure projects,” says Davies.
The technical visit, as well as the first Outward Trade Mission to Peru that was undertaken last year, identified numerous business opportunities for the South African companies to explore in partnership with Peruvian companies in sectors such as aquaculture, infrastructure and agro-processing.
“The mission to Peru will provide the South African companies with an opportunity to penetrate 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,” adds Minister Davies.
He adds that members of the South African business delegation will be able to interact with local business decision-makers and present their products and services in a one-on-one sessions.
“Our companies will also be able to introduce their products directly to their target markets. Delegates will also network and build relationships with potential importers and potential investors that will benefit both the companies and the country in future,” emphasised Davies.
Bilateral trade between South Africa and Peru totalled almost R600 million last year. It is heavily skewed in favour of SA which exported products worth more than R400m to Peru.
According to the World Bank, Peru, With a population of more than 30 million, is one of Latin America’s fastest growing economies and is expected to remain as such in the medium term. Most recent estimates of real GDP growth of 3.5% for 2014 are above the regional average of 1.2%.
