NIGERIA WELCOMES SOUTH AFRICA BUSINESS DELEGATION ON TRADE MISSION

NIGERIA WELCOMES SOUTH AFRICA BUSINESS DELEGATION ON TRADE MISSION

The South African business delegation, taking part in the Outward Trade and Investment Mission (OSIM), arrived in Lagos, Nigeria, on Thursday night, for the second leg of the mission which aims to increase trade and investment between the two countries, the department of trade and industry (dti) said

The visit to Nigeria was aimed at South Africa forming continuous and sustainable economic relations with West African countries in order to advance industrial development and upgrade diversification along a growth path that addresses structural constraints in the economy, including unemployment and poverty, Chief Director of Trade and Invest Africa Zanele Sanni said.

“Nigeria is the biggest economy in Africa and one of the few countries with which South Africa suffers a trade deficit. The mission is therefore intended to penetrate the Nigerian market with South African-manufactured products and to further exploit investment opportunities,” she said.

The Acting High Commissioner of South Africa in Nigeria, Bobby Moroe, welcomed the business delegation and said the South African government invests in international trade and investment missions in order to assist companies to contribute in creating much-needed jobs for the country’s people, dti said.

“As representatives of the government of South Africa, we are entrusted with the task of enhancing political and economic relations between the countries we are posted in and South Africa. Our task is to promote cordial mutual bilateral relations that will enable us to position South Africa as a country of choice for bilateral trade and investment. It is the interaction between our political and economic relations that opens doors for our companies to engage in two-way trade and investment activities,” Moroe was quoted as saying in a statement.

The total value of trade between South Africa and Nigeria for 2017 amounted to R28,5 billion.

– African News Agency

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