Gauteng businesspeople who will be travelling to Russia to participate in the Investment and Trade Initiative (ITI) organised by the Department of Trade and Industry (the dti) are looking forward to exploring business opportunities in the European country.
The Managing Director of Johannesburg-based Beeake Engineering Solutions, Mr Kgopotse Moagi, and the Managing Director of the Bronkhorspruit-based Africa Merino Trading, Mr Simo Simov will be part of the 20-member business delegation that will be in the Russian city of Novosibisrk from 24-27 October 2017. The purpose of the mission is to increase the volume of exports of agro-processing and clothing and textile products, as well as built environment and capital equipment goods and services to the Russian market.
We are travelling to Russia with the aim of exposing our fabrication steel products, as well as our skills and expertise, to the Russian market. We are also undertaking the trip in order to seek funding for the two projects that we are currently working on. The projects are the coal prospecting in KwaZulu-Natal and the lithium project in Botswana. We will be targeting Russian mining companies for possible partnerships and potential investors to solicit funding for the projects,rdquo; says Moagi.
He says he pins his hopes on the fact that the international business community has its sight set on Africa for future investments, expansions and trade.
Africa is attracting attention from international investors. We are also positive that potential investors will look at us favourably as a result of our membership of the BRICS (Brazil, Russia, India, China and South Africa) economic bloc and the projects that Russia is involved in locally. We have done some research and there are specific potential investors that we would like to meet when we are in Russia,rdquo; says Moagi.
Simov is confident that his merino sheep skins and wool will appeal to the Russian shoe and clothing manufacturers because of the predominantly cold Russian weather.
We have exported our products to Moscow before but that market gradually shrank and eventually collapsed after the imposition of economic sanctions against Russia. We are looking forward to opening a new market in Novosibirsk region as there are several shoe and clothing manufacturers there that we are targeting. I have already invited our former clients that are based in Moscow in order to discuss possibilities of reviving that market for our products,rdquo; says Simov.
He also sees a brighter future for South African companies in their efforts to find a market for their goods and services in Russia as a result of South Africa and Russia being members of BRICS.
We are optimistic that being part of Brics will enable us to take advantage of the investment and trade opportunities that members of the economic grouping are opening up for their private sector in order to increase trade and investment amongst the countries in the bloc. We are confident that the trip to Novosibirsk will result in us exporting our products so that we can grow our business,rdquo; adds Simov.
Source: The Department of Trade and Industry, South Africa.