Powerful South African biz delegation arrives in Sri Lanka

Hlengiwe Mkhize, South Africa's Deputy Minister of Economic Development and Renier Schoeman, core convenor of ANC-PBF (and also the former Deputy Foreign Minister).

The biggest and most powerful- South African business delegation ever to arrive in Sri Lanka, arrived yesterday morning. "We extend a warm welcome to the strong business delegation led by South Africa's Deputy Minister of Economic Development Ms Hlengiwe Mkhize, to Sri Lanka. I have no doubts that this visit would help further strengthen current trade levels of $ 65 Mn," said Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka.

The delegation consists of no less than 30 leading business members of the powerful Progressive Business Forum of African National Congress (ANC-PBF), the ruling ANC's influential business collective. The delegation led by South Africa's Deputy Minister of Economic Development Ms Hlengiwe Mkhize and accompanied by Renier Schoeman, core convenor of ANC-PBF (and also former Deputy Foreign Minister), would be in Sri Lanka from September 5-8. The visiting ANC-PBF delegation represents sectors such as construction industry, mining, agriculture and tourism. It is reliably learnt that the delegation is looking for investments in urban property and shopping malls here.

According to the Department of Commerce of Sri Lanka, South Africa has become the most important trading partner for Sri Lanka in the Southern African region. In 2011, bilateral trade between the two countries topped $ 65.49 Mn.

The balance of trade between Sri Lanka and South Africa, is reported in favor of South Africa, except in 2007 & 2010.

Last July, a top Sri Lankan Business delegation visited South Africa as part of a joint initiative of the Sri Lanka High Commission in Pretoria and the Sri Lanka Export Development Board (EDB), to take part at the SAITEX 2012 International Trade Fair in Midrand, which featured a special Sri Lankan pavilion. Among the delegation were nine companies from various sectors which included porcelain tableware, Ceylon black tea, green tea, organic tea, and spices.