SOUTH Africa’s trade and industry department (DTI) was leading a trade visit to Chile and Peru aimed at introducing mining companies to end users in the South American countries, said African News Network in an article republished by Business Report.
“Chile’s open-market oriented and trade friendly environment has been particularly attractive to investors because of its upward economic growth pattern, established banking sector, relatively transparent regulatory environment and political stability,” deputy trade and industry minister, Fikile Majola, said in a statement.
The visit started on September 24 and was set to conclude on October 4. A similar visit to Peru last year generated 84 positive trade leads, the DTI said.
“South African mining companies have made in-roads into the Chilean and Peruvian markets, with select capital mining equipment products and mining services being marketed by companies with a strategic and long-term perspective of both markets which have been able to penetrate and unlock long-term and sustainable exports,” said Majola.
South African exports to Chile raked in R774m in 2018 against imports of R2bn. Exports to Peru were R413m while imports totalled R710.8m.