South Africa, Cuba strengthens trade relations

15:04, October 29, 2009      

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Trade and investment relations between South Africa and Cuba will be strengthened during the Havana International Trade Fair, the South African Department of Trade and Industry (DTI) said on Wednesday.

"The fair will provide an opportunity for deputy minister Thandi Tobias-Pokolo and her Cuban counterpart to discuss issues on the bilateral agenda, with particular focus on trade and investment," the South African Press Association cited the spokesman Sidwell Medupe as saying in a statement.

Tobias-Pokolo would lead a 40-member government and business delegation to Cuba for the Havana International Trade Fair, from November 2 to 7.

In 2008 South Africa exported goods to Cuba worth R81,979,457. Cuba's exports amounted to R15,741,495 during the corresponding period.

Thirty-four South African companies would present their technological and industrial capabilities at the fair.

Targeted sectors included agro-processing, biotechnology, automotives, construction, pharmaceuticals, capital equipment (including mining equipment), chemicals and engineering services.

The companies included emerging, well established and women-owned ones. The DTI participated in the fair since 2004, with the exception of 2005.

Tobias-Pokolo said Cuba has the potential to emerge as a significant oil producer, with opportunities arising in this area. In addition, it has a growing tourism sector, and South Africa is well-placed to supply the necessary products to that market.

Source: Xinhua
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