Malta Enterprise will be leading a trade and investment promotion delegation to South Africa between March 13 and 21 where it will organise meetings between Maltese and South African companies.
South Africa produces 18 per cent of Africa's GDP and is classified by the UN as a middle-income country with an abundant supply of resources, well-developed financial, legal, communications, energy and transport sectors, a stock exchange that ranks among the top 20 in the world and a modern infrastructure supporting an efficient distribution of goods to major urban centres throughout the entire region.
According to the World Bank, the country's GDP is worth $277 billion or 0.45 per cent of the world economy.
Maltese exports to South Africa reached €878,897 in 2008, down from nearly €2 million of exports in 2006 and an increment of €561,553 from 2007. The main exported items are pharmaceuticals, machinery and mechanical appliances.
On the other hand, Malta imported €1.7 million worth of products during 2008, up from €665,323 in 2006. The main imported items are edible fruit and nuts, beverages and spirits and paper.
South Africa has enormous potential with a unique combination of highly developed first world economic infrastructure and a vibrant emerging market economy. Since the advent of democracy in 1994, South Africa's economy has been undergoing structural transformation, with the implementation of macro-economic policies aimed at promoting domestic competitiveness, growth and employment and increasing the economy's outward orientation.
South Africa is the EU's largest trading partner in Africa, with exports to the EU growing and becoming more diverse. The country is gradually moving from mainly commodity-based products to a more diversified export profile that includes manufactured products.
The country has world-class infrastructure including a modern transport network, relatively low-cost and widely available energy, and sophisticated telecommunications facilities. These are being significantly upgraded and expanded in preparation for the 2010 Fifa World Cup.
South Africa offers various promising areas for investment, trade and technology commercialisation for Maltese companies especially those engaged in ICT, healthcare, alternative energy, real estate, financial services, transport and logistics services, travel and tourism, construction, automotive components, aviation and electrical power systems.
Interested companies wishing to participate can contact Lara Fiott on 2542 3288 or e-mail: lara.fiott@maltaenterprise.com.
More information on this event and other business delegations organised by Malta Enterprise can be obtained from www.maltaenterprise.com.