SA to promote investment potential in Cuba

SA to promote investment potential in Cuba

South Africa is expected to participate in the 27th Havana International
Trade Fair in Cuba this week, to promote its exports and investment
potential.
Deputy Minister of Trade and Industry, Thandi Tobias-Pokolo, has led a
40-member government and business delegation to the week-long
international trade fair which starts today, Monday 2 November 2009.

South Africa's attendance at the fair will serve to strengthen the
South-South Agenda and further the objectives of the Joint Bi-National
Commission Agenda with Cuba by promoting trade and investment between
the two countries.

The department has participated in the fair since 2004, with the
exception of 2005.

The event will also provide an opportunity for Tobias-Pokolo and her
Cuban counterpart to discuss issues on the bilateral agenda, with
particular focus on trade and investment.

Cuba is an important trading partner for South African exporters and the
department has secured a pavilion for South Africa's participation,
where 34 companies will showcase their technological and industrial
capabilities.

The targeted sectors include agro-processing, biotechnology,
automotives, construction, pharmaceuticals, capital equipment including
mining equipment, chemicals, electro-technology including security
systems and engineering services.

The companies include emerging, well established and women-owned companies.

In 2008, South Africa exported goods to Cuba to the value of R81,979,457
and Cuba exported goods to the value of R15,741,495 during the
corresponding period.

Tobias-Pokolo said that South Africa regarded Cuba as a strategic
partner in the Caribbean and the visit provided an opportunity to
further strengthen relations between the two countries.

"In addition, it has a growing tourism sector and South Africa is well
placed to supply the necessary products to that market," said Tobias-Pokolo.

She said the fair would further provide an opportunity for South African
companies to showcase their products and services and network with their
counterparts from the rest of the world and Cuba in particular.

In his address during the United Nations General Assembly in September
2009, President Jacob Zuma called for the removal of the US trade
embargo on Cuba.

SA to promote investment potential in Cuba (2 November 2009)
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