The Western Cape’s trade and investment promotion agency, Wesgro, says it’s keeping an eye on unfolding events regarding Brexit and the implications for the local companies with trade and investment links to the United Kingdom (UK).
The UK is the second largest buyer of the province’s products and exports exceeded R9 billion in 2017.
The Chief Executive Officer (CEO) Wesgro, Tim Harris, says the UK is also the province’s largest investor.
Harris says 25% of all foreign investment projects in the province between January 2003 and September 2017 came from the UK.
“As an agency we have been working very hard with the DTI., the UK international trade with whom we signed the MOU to try an navigate the space during and post Brexit. We’ve conducted several sessions to help businesses in the Cape understand the effects on them as Brexit rolls out,” says Harris.
