Thailand and South Africa to strengthen tradeStaff writer ▼ | August 7, 2014
Thailand and South Africa are targeting two-way trade at $9.5 billion by 2017 under an investment-promotion agreement to be signed in October by the Board of Investment of Thailand and Trade and Investment South Africa.
Asia and Africa SA, Thailand target $9.5 billion by 2017
Ms. Srisuworanant said she discussed forging closer trade and investment ties with Victor Mashabela, chief director of South Africa's Trade and Industry Department, at a recent meeting of the Thailand-South Africa Joint Trade Commission.
Thailand proposed that South Africa import more agricultural and industrial products, mainly rice, rubber and automobile parts.
South Africa asked for Thailand to help develop and add value to processed farm products, chemical products, jewellery and ornaments, and auto parts.
The two countries also agreed to launch more trade-promotion activities.
South Africa will facilitate imports of fruits including mangosteen and longan from Thailand, while this country will favour imports of grapes and apples from South Africa, by stimulating analysis process of fruit for pests. Thai and South African businesses will join in promoting their automobile and parts industries at the Auto Components Fair in South Africa this October.
Thailand is South Africa's largest trading partner in Asean, while South Africa is the biggest market for Thailand in Africa. ■