Lagos: The Nigerian-Brazilian Chamber of Commerce and Industry (NBCCI) has expressed optimism that this weekend's visit of Brazilian President Dilma Rousseff to Nigeria will boost trade and investment between the two countries. NBCCI, which was established in September 2009 to encourage and promote Nigeria-Brazil’s private and public sectors bilateral business, industrial and cultural relationships, also said the visit would go a long way in helping to correct the trade imbalance between them.
Johannesburg: The US Chamber of Commerce’s US-South Africa Business Council joined with a congressional delegation led by Senator Chris Coons (D-DE) for the business council’s South African launch in Johannesburg on Wednesday. This week‚ the chamber’s vice-president of African affairs and international operations Scott Eisner and members of the United States Senate and House of Representatives are meeting with senior government and business representatives to explore opportunities to expand the commercial relationship between the two countries.
Charlottesville: I came here purposefully to underscore that in today’s global world, there is no longer anything foreign about foreign policy. More than ever before, the decisions that we make from the safety of our shores don’t just ripple outward; they also create a current right here in America. How we conduct our foreign policy matters more than ever before to our everyday lives, to the opportunities of all those students I met standing outside, whatever year they are here, thinking about the future. It’s important not just in terms of the threats that we face, but the products that we buy, the goods that we sell, and the opportunity that we provide for economic growth and vitality.
Cape Town: Troubled carrier SAA's turnaround plan to be presented to the government at the end of next month might involve cutting some flight routes, MPs heard on Tuesday. SA Airways (SAA) board acting chairperson Dudu Myeni said the plan would be the ninth developed by the ailing airline in 13 years. "When the board assessed all the existing strategies of SAA, developed since 2000, we discovered that we had eight strategies that were developed by various well-known companies, but they were put on the shelf, gathering dust, and not being implemented."
Pretoria: The Egyptian Ambassador to South Africa Mr Sherif Naguib has urged the South African and Egyptian business communities to take advantage of the cordial bilateral relations that exist between the two countries to consider working together, in order to increase trade and investment between Egypt and South Africa. Ambassador Naguib was speaking at the opening of the two day seminar on trade and investment opportunities between South Africa and Egypt held at the Emperors Palace in Kempton Park yesterday.
The proposed preferential trade agreement between India and Southern African Customs Union (SACU) countries may be restricted to tariff exchanges on a limited number of products in the wake of concerns over potential harm to the local industry, a media report said. The two parties plan to limit negotiations to a reduced level of tariff exchanges, 'Business Day' newspaper quoted General Xavier Carim, Deputy Director South African Ministry of Trade and Industry, as saying in a report.
Johannesburg: Carrying the theme “BRICS and Africa - partnerships for integration and industrialisation” the fifth BRICS Summit will be held in Durban, South Africa between 25 and 27 March 2013. Taking a step back, this report focuses on the depth of intra-BRICS trade and commercial ties to frame many of the discussions which will take place in Durban.
Johannesburg/Mumbai: India's Cipla Ltd has put on hold a $215 million bid for control of South Africa's Cipla Medpro, signalling it may be unwilling to sweeten its offer for the drug firm. Cipla, which has a supply agreement with the Cape Town-based company but has never owned a stake in it, in November offered to buy 51 percent of Cipla Medpro to gain a bigger foothold in Africa's growing market for low-cost drugs. But just days after the offer, Cipla Medpro won a 1.4 billion rand ($158 million) contract from the South African government to supply HIV/AIDs drugs to local hospitals, sparking speculation the Indian firm would have to increase its bid.
Jakarta: Indonesia is expecting to start preferential trade agreement (PTA) talks with Nigeria in the second-half of this year with the hope of removing entrenched trade barriers and boosting bilateral trade to US$5 billion by 2015. Trade Minister Gita Wirjawan, who visited Nigeria last week, has signaled that there is enough common ground to seal the PTA with the West African nation, which could serve as an entry point to neighboring countries, such as Benin, Ghana, the Ivory Coast and Liberia. African countries are increasingly important for Indonesia as Southeast Asia’s largest economy has worked on market diversification and looked for non-traditional export destinations in recent years.
Jakarta: Indomaret officially open a branch in Johannesburg, South Africa at the end of last month. Indonesia's Ambassador in Pretoria, Sjahril Sabaruddin, attended the launching ceremony of Indonesia's first minimarket franchise in Africa. "The community and local businessmen, foreigners, Namibia and Zimbabwe businessmen, as well as Indonesians living in South Africa are very excited about the store's opening," Director General of National Export Development, Ministry of Trade, Gusmardi Bustami, said on Friday, February 8.