Dipo Olowookere
By Dipo Olowookere
South Africa’s Minister of Trade and Industry, Mr Rob Davies, has disclosed that exports from his country to Nigeria slightly declined to R6.4 billion (about N156 billion) in 2016.
Speaking ahead of his visit to Nigeria to strengthen business relations between the two African countries, Mr Davies said he would be in Nigeria to identify and create export markets for South African value-added products and services whilst creating business partnerships between business communities.
According to the Minister, the Department of Trade and Industry (the dti) has prioritised engagements with Nigeria following the successful state visit to the country in 2016.
Mr Davies described Nigeria as key strategic partner for South Africa in the West Africa region and also pivotal towards advancing integration on the continent.
He mentioned key areas to look into as Agro- Processing; Electro-technical; Infrastructure, Mining and Capital Equipment.
“The mission will also create a platform to facilitate networking and the obtaining of information on the dynamics of the industries, as well as availability of partnership opportunities in Nigeria,” Mr Davies noted.
According to him, South Africa’s exports to Nigeria almost doubled from R5.8 billion (about 143.1 billion) in 2012 to R9.9 billion (about 244.3 billion) in 2015, accounting for 6 percent increase in the growth rate, and slightly declined to R6.4 (156 billion) in 2016.
However, he pointed out that Nigeria maintained the trade surplus of R23 billion (about 567.6 billion) in 2016.
