Strengthening trade relations between Western Cape and Portugal

A delegation from And they are seeking refuge Visit Portugal from July 29 to August 1, 2024.

Wesgro is the official tourism, trade and investment promotion agency for the City of Cape Town and the Western Cape Province. The organization assists investors and businesses looking to establish a presence in the province.

The delegation consisted of:

:

• Ms. Renel Stander, CEO of Wesgro
• Ms. Jean Schlittema, Head of Marketing and Innovation
• Ms. Thiru Naidu, Senior Director, Export Promotion.

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The delegation met with Portuguese companies and other stakeholders in trade and investment in Portugal, including CCILSA, MCA Group, Tourism in Portugalvisited the port of Sens, theNational Agency for Innovation, Portugal Projects andI will leave

.

Credits: Image provided; Author: Client; Tourism in Portugal

The visit was organised with the assistance of AICEP, the Portuguese Trade and Investment Agency and the South African Embassy.

The partnership aims to enhance economic cooperation in key sectors such as agriculture, renewable energy and information and communications technology.

In order to promote trade relations between the Western Cape and Portugal, Wesgro,Official Agency for the Promotion of Tourism, Trade and Investment Cape Town and the Western Cape have signed a Memorandum of Understanding with the Portuguese Investment and Foreign Trade Agency (AICEP), the Portuguese government agency responsible for attracting investment and promoting export growth.

Credits: Image provided; Author: Client; Ms. Thiru Naidoo, Ms. Renelle Stander, Ms. Ana Mafalda Dourado Santos, Head of International Affairs of the National Agency for Innovation (ANI) and Ms. Jan Schlitema

The MoU aims to develop trade and economic relations between the City of Cape Town, the Western Cape Province and Portugal by promoting projects in sectors of mutual interest. These include agricultural production, renewable energy, professional services, biotechnology, pharmaceuticals, ICT, logistics, water and sanitation. The collaboration could lead to joint efforts to organize exhibitions, buyer-seller meetings, seminars, symposia, workshops and product sample presentations.

“Portugal and South Africa enjoy friendly relations and this MoU represents an important step in deepening our economic ties,” said Wesgro CEO Rennel Stander. “The Western Cape is open for business. This agreement with AICEP is essential to attract, facilitate and support foreign direct investment (FDI) into our province while strengthening our presence in international markets. Strong, mutually beneficial partnerships are essential to capitalize on opportunities to accelerate economic growth and create much-needed jobs,” she added.

Credits: Image provided; Author: Client; Ambassador Jauritello, Ms. Stander and Ms. Manuela Robinson of CCILSA

South Africa and Portugal enjoy strong bilateral relations, with leading Portuguese companies such as logistics companies Rangel Group and Transitex operating in the country. Tourism between the two countries has also seen significant growth in recent times, with over 16,000 Portuguese tourists visiting South Africa in 2022, a 172.10% increase compared to 2021. The Western Cape province welcomed 5,488 Portuguese tourists in the same year, a 151.74% increase compared to 2021, and a 42.13% rebound from pre-pandemic levels in 2019.

Citrus fruits were the Western Cape’s top export to Portugal in 2022, valued at R426.21 million and accounting for 41.85% of the province’s total exports to the European country. An estimated 38.56% of South Africa’s citrus fruits shipped to Portugal in 2022 came from the Western Cape. South Africa’s total exports to Portugal in 2022 amounted to R3.41 billion, up 20.43% compared to 2021, while total imports from the Iberian country amounted to R6.19 billion, up 33.85% year-on-year.

The MoU paves the way for a wide range of activities, including the exchange of non-confidential economic and commercial information, the promotion of joint projects and the organization of exhibitions and conferences. Both sides are committed to establishing mutually beneficial relations, especially for small and medium-sized enterprises in the two regions.

Credits: Image provided; Author: Client;

Financial commitments and resources for specific projects and activities under the MoU will be mutually agreed upon, with each party bearing its own costs. They will also seek financial support and donations from national and international organizations and partners, where appropriate. The MoU will be valid for an initial period of five years, with the possibility of renewal by mutual agreement.

Credits: Image provided; Author: Client;

“This partnership lays a solid foundation for improving economic relations and expanding trade opportunities between the Western Cape and Portugal,” Mr. Stander concluded. “This collaboration is expected to bring significant benefits, fostering economic growth, innovation and mutual prosperity.”