South African Minister visiting Yemen [Archives:2005/879/Local News]

September 22 2005

A business delegation headed by the South African Minister of Trade and Industry Mr. Mandisi Mpahlwa will be visiting the Gulf region between 23 and 29 September 2005. The delegation will be in Yemen on the 28th September were the South African Minister will meet with the Yemeni Minister of Industry and Commerce.

The delegation will include amongst other representatives from the South African equine trade, the tourism industry, hotel & hospitality sectors, finance experts, construction, mining & pharmaceutical companies.

A Business seminar will take place in collaboration with the Yemeni Ministry of Industry and Commerce and the Yemeni Chamber of Commerce at which the Yemeni business community will have the opportunity to meet one-on-one with the South African delegation.

At present the balance of trade between South Africa and Yemen is in Yemen's favor. According to the South African Trade Consul in Jeddah, Yemen exports to South Africa amounted to 551,850 million Rands in 2004 up from 202,850 million Rands, imports from South Africa amounted to approximately 106.705 million Rands in 2004. Petroleum products and oil are among Yemen's major exports to South Africa whilst tobacco, wood and wool are imported from South Africa.

South Africa endeavors to promote its trade with Yemen by reducing the trade balance and accelerating investment into South Africa and Yemen as well as the establishment of Joint Ventures with Yemeni businesses tapping into opportunities in various sectors in Yemen

The Yemeni business community should take into consideration the fact that South Africa is not only the largest economic power on the African continent, it is also the gateway to the Southern Africa Developing community with a potential market of more than 140 million people in 13 countries.

With the high level of South African visits to Yemen, it is expected that stronger trade, investment and tourism ties will be forged.