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South Africa set to boost trade with Cuba

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The upcoming Havana International Fair will further advance relations between South Africa and Cuba, says Trade and Industry Deputy Minister Bulelani Mangwanishe.

The Deputy Minister will lead a South African business delegation that will showcase locally made products and services at the Havana International Fair (FIHAV), which commences on 30 October.

“Our 2016 total trade with Cuba amounted to almost R180 million, with  South African exports dominant at R149.7 million and Cuban exports to  South Africa sitting at R29.8 million. We also have an Economic Assistance Agreement in operation, where we provide grants and loans totalling R350 million to Cuba for purchasing local products,” said the Deputy Minister on Thursday.

Products purchased from the agreement range from plastic resin to vegetable seeds.

Deputy Minister Mangwanishe said the Outward Selling Mission (OSM), that was undertaken to Cuba in July, brought back valuable feedback on current existing tradeopportunities in that country. 

“We have gone [to lengths] to ensure that companies that form part of our delegation directly complement the sectors that have demonstrated high demand for our products and services. We will showcase these at our pavilion that we will officially open on 31 October.

“The products and services range from plastics, infrastructure development, food and other 
products used in the tourism industry.”

FIHAV is the largest annual multi-sector trade fair that has been taking place annually since 1983.  The fair will conclude on 3 November.


 

Source

SAnews.gov.za

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