The Eastern Cape has embarked on a drive to position itself as a preferred investment destination in Africa.
The province will host the Eastern Cape Export Symposium and Exhibition this week at the East London ICC.
Eastern Cape Export Symposium and Exhibition to lift the lid on country’s export potential – Eastern Cape Industrial Business News Read More –#InTheNews 👉🏾 https://t.co/mCKvCh5WYc pic.twitter.com/sBmQaDdrj6
— Eastern Cape Development Corporation (@ecdc_developec) September 15, 2022
Eastern Cape positioning itself as preferred investment destination in Africa
The province seeks to accelerate its exports as it aims to grow the economy, as it hosts a symposium in East London for trade emissaries from a number of African countries and also the European Union.
Increasing trade with other African countries is high on the agenda as Intra-African trade constitutes only 16% of total trade in Africa.
Head of Trade Investment and Innovation at the Eastern Cape Development Corporation, Phakamisa George says this is a huge untapped market.
“With increased trade and export, it increases bigger capacity and with increased capacity – increases the number of people that need to be employed. This has a multiplier effect. but it starts from the demand and the demand comes from export traders, bigger production needs. more manpower so that’s where employment gets created,” says George.
The Eastern Cape trade ties with global markets continue to strengthen. This week the ECDC through its Trade, Investment & Innovation wing hosts #EasternCape Export Symposium from 14 – 15 Sept. Click to join 👉🏾 https://t.co/seutMkWjN4 Read article 👉🏾 https://t.co/EVU5d8DSUD pic.twitter.com/oFYTuV6dtB
— Eastern Cape Development Corporation (@ecdc_developec) September 12, 2022
On its website, the symposium seeks to be in-person to connect role-players through an exhibition, two-day conference, workshops, match-making and networking opportunity to achieve three overarching objectives.
It outlines the objectives as Promoting exports and supply networks, Promoting export-readiness and Synergising resources and focus on a wide range of export-related role-players that optimises export efficiency and economic growth.
The conference will be live streamed throughout South Africa, and beyond, and all activities will be hosted in-person.
Its goal is to familiarise the Eastern Cape and its existing and current trading partners with the changes in global developments.
It also aims to go a step further by offering relevant information, contact details and resources needed to practically materialise opportunities.
Eastern Cape Development Corporation hosts Financing Symposium
The Eastern Cape Province attracted a total of US$6.19 billion in FDI’s from the World and created approximately 11 596 job opportunities between January 2012 and August 2022. During this period under review, a total of 56 FDI’s projects landed in the province. pic.twitter.com/BsMYTXfQA3
— Eastern Cape Development Corporation (@ecdc_developec) September 14, 2022