Business

South Africa keen to increase trade to $2b

Envoy underlines need for business linkages between private sectors of two sides

Our Correspondent October 22, 2021

PHOTO: Facebook/Pakistan High Commission South Africa

RAWALPINDI:

South Africa considers Pakistan as an important country for trade cooperation and is keen to enhance bilateral trade by tapping its true potential, said South Africa High Commissioner Methuthuzeli Madikiza.

Visiting the Rawalpindi Chamber of Commerce and Industry (RCCI) on Thursday, he emphasised the need for strengthening business linkages between private sectors and chambers of commerce of the two sides.

He highlighted that the current bilateral trade between the two countries stood below $1 billion, which could be increased to $2 billion in the next few years.

He was of the view that joint ventures could be established in different sectors including mining, construction, tourism, agriculture, pharmaceutical and services.

South Africa’s High Commission would facilitate the business community of Pakistan in forging linkages with their counterparts to promote collaboration in areas of mutual interest, he said.

On the occasion, RCCI President Nadeem Rauf spoke about the ongoing activities and future programmes of the chamber.

He suggested sharing trade-related information at the delegation level in order to boost trade with South Africa. He apprised the high commissioner of investment opportunities in Pakistan.

Moreover, a memorandum of understanding had been signed with South Africa to promote chamber-to-chamber relations, he added.

He highlighted that joint ventures could be formed in the fields of information technology, construction, pharmaceutical, marble, engineering, poultry and textile.

Published in The Express Tribune, October 22^nd, 2021.

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COMMENTS (1)

samir sardana | 3 years ago | Reply With COVID relapse in Germany the next frontier for Pakistan is AU.In the 1st step the Pakistan manufacturers can set up down stream manufacturing units in AU for the local market - which is an import substitution product. The import duty rates in AU can be modified to lower import rates of intermediates to make manufacturing viable in the AU nation. Once the synthesis of the local labour quality and management stabilises - then the next step is to shift the Pakistan manufacturing export value chain to select AU nations with no shortage of energy at a low cost.That unit can be stand by export unit for exports to EU. Therefore once a Pakistan EOU in Karachi has made its dent and brand in the US and EU - but cannot serve the potential market due to energy and other bottlenecks in Pakistan it needs AN ALTERNATE EOU BASE OR A MANUFACTURING BASE. THAT BASE IS AU - which might also provide fiscal and monetary subsidies for export to EU from AU. There is 1 more strategic advantage of an AU base.When oil prices crash - most AU nations FX crashes - and that will drastically lower the USD costs in AU As wages etc. will be in local FX and increase the NSR on exports due to FX depreciation .In Pakistan when Oil falls PKR rises and THUS DENTS the NSR ON EXPORTS especially as the imported content was booked at higher FX rates So the Pakistani corporates can maximise the treasury and NSR as an integrated unit spread from Pakistan to the AU. The ideal combo is PRC funds Pakistan management and engineers AU labour. Africans find it difficult to work with the Chinese as the Chinese work ethic and efficiency standards are too stiff. PRC can build the basic materials and infra sector as that involves huge political risk. The PRC and Pakistan combo can be the ideal formula for investments in the AU - and that will also wipe out the Indians from the AU and South Africa. Indians are a race of shopkeepers - bania vermin - and soon the people of the AU will realise the worth of these vermin - AFTER Indian INDUSTRIALISTS IN AU are WIPED OUT by the PRC-Pakistan combo. There is a limited awakening in South Africa and will accelerate soon https www.sowetanlive.co.za opinion letters 2021-06-14-malemas-anti-indian-rants-could-fan-violence In the last 5000 - there was only 1 man born in India who set up a Non-bania operation outside India.That man is called LN Mittal - and even HIS SON HAS REALISED THE WORTH OF HIS NATION HE SAYS THAT HE IS NOT AN INDIAN MNC HEAD https timesofindia.indiatimes.com world uk we-are-not-an-indian-mnc-aditya-mittal articleshow 2510191.cms THE DAY HE NAMES ARCELOR - MITTAL STEEL - THAT COMPANY WILL ALSO BE WIPED OUT PRC AND PAKISTAN - CAN WIPE OUT INDIAN INDUSTRY ON LAND AIR SEA AND UNDER THE SEA AND UNDER THE LAND ELIMINATE THEM THAT IS THE DESTINY OF PRC AND PAKISTAN - WHICH EXPLAINS THE FUSION OF THE MONGOLS THE TURKS AAFGHANS AND PERSIANS - WHICH LED TO THE RAMPAGE OF THE HINDOOS FOR 1000 YEARS THAT WAS THE GOLDEN PERIOD OF THESE INDIAN VERMIN RESTORE THE INDIANS TO THEIR GLORY

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