SA SHOULD MAINTAIN MOMENTUM TO INCREASE TRADE AND INVESTMENT WITH ANGOLA

SA SHOULD MAINTAIN MOMENTUM TO INCREASE TRADE AND INVESTMENT WITH ANGOLA

The South African Foreign Economic Representative in Angola, Mr Madileke Ramushu says SA needs to maintain the momentum in deepening the bilateral trade and investment relations with Angola.

In his assessment of the participation of over 24 South African companies in the 32^nd Angolan international trade fair, FILDA (the Feira Internacional de Luanda) which ended in the capital Luanda yesterday, Ramushu said he had seen bilateral economic relations between SA and Angola expanding significantly during his four years as an economic representative in Angola. But he reckons there is still unlimited amount of groundwork that needs to be covered by businesspeople from the two countries working together to explore the myriad opportunities that the two major Southern African Development Community economies offer.

“South Africa’s participation in FILDA has been growing in importance since we first participated in 2012. This was after the two governments have realised that the popular international trade show was one of the perfect platforms that we could utilise to increase trade between the two countries.  The kind of attention that the companies that exhibited this year attracted is evident that as a country we need to maintain or increase the momentum. I am confident that the huge number of people who visited our pavilion and witnessed what our companies can offer will translate into concrete deals, orders, partnerships and joint ventures,” says Ramushu.

He added that his office, which is part of the SA Embassy in Angola, worked tirelessly with the national Department of Trade and Industry (the dti) to market the participation of SA in FILDA.

“Our participation was marketed well through the Angolan media this year. We also approached the Angolan industry association, the Luanda business association and the chamber of commerce and provided them with information on our companies and the sectors they operate in. The results of these efforts were reflected in the throngs of trade fair visitors who flocked to our pavilion throughout the duration of the fair. Our exhibitors reciprocated well as they were good ambassadors of the country throughout exhibition,” said Ramushu.

He identified construction, automotive, energy, rail transportation and agri-business as some of the most viable sectors that offer unlimited opportunities for the SA companies in Angola.

“At the moment, everybody who is in Luanda can bear testimony to the fact that the area resembles a construction site. There are developments everywhere. Residential estates, roads, offices and apartments are being constructed in many areas of Luanda. The country is also hard at work with the development of the Lobido Corridor where the construction of a railway line connecting the port of Benguela in the south of the country with the port of Maputo in Mozambique is being constructed in order to facilitate trade in the region. Opportunities beckon in this major infrastructure development project for companies like Valo Tech who were exhibiting here,” said Ramushu

He said Angola’s efforts to diversify the country’s economy have opened myriad opportunities in manufacturing, agriculture and agro-processing sectors and related industries.

 “As part of the diversification process, Angolans have also embarked on the localization drive and are amenable to joint-ventures and partnerships with companies from other parts of Africa to come and invest in Angola, set up operations and contribute in the manufacturing of goods and products for local consumption. As a result they have also urged us to bring along potential investors from SA,” said Ramushu.

Bilateral trade between SA and Angola stood at almost R25 billion in 2014.