South Africa keen to increase trade to $2b

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

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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