South Africa: DTI to hold South Africa-Iran Business Forum

As trade and investment are growingly becoming the language between Africa and other countries across the globe, South Africa and Iran are ready to explore the benefits of business collaborations within the automotive, agriculture, agro-processing, mining, energy, pharmaceuticals and, oil and gas sector. Delegations within these sectors in Iran will be visiting South Africa for the South Africa-Iran Business Forum at the Department of International Relations and Cooperation (DIRCO) offices in Pretoria. The Forum is largely spearheaded by South Africa’s Department of Trade and Industry (the dti) and will look into issues such as investment, trade, and economic development for both countries through a mutual relationship.

Commenting on the Forum, Dr. Rob Davies – Minister of Trade and Industry, said that the Forum is a very green opportunity for companies in the country to establish a beneficial trade relation with Iran via presenting to the delegations the huge benefit that stands to be achieved by both countries. He also highlighted the strength of Iran in the Middle East economy, thus, a string partnership opens up an opportunity for trade in the region. He said “Iran is the second largest economy in the Middle East region in terms of Gross Domestic Products (GDP) totaling US$438 billion in 2016 and the largest market in terms of population (80 million people). It ranks second in the world in terms of natural gas reserves and fourth in proven crude oil reserves.”

The event will be held this Monday, 23 October 2017 at 9 am and will be co-chaired by Ms. Maite Nkoana-Mashabane (Minister of DIRCO, South Africa) and Mr. Mohammad Javad Zarif (Minister of DIRCO, Iran).

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