An informative webinar for South African companies wanting to learn peer experiences entering the Australian market, and for Australian companies considering business in the South African market. The webinar is hosted by Western Cape Tourism, Trade and Investment (Wesgro); a 40-year-old business promotion group and discusses the enormous potential for bilateral economic commerce growth between Australia and South Africa. Presenters include One Stop Shop; Flight Centre Travel Group of Australia and Sea Harvest from South Africa. You will also hear comments from the Honourable Gita Kamath of the Australian High Commission, Judi Nwokedi of the ABCSA as well as Duncan Harris and Boban Tomic from the Australia-Africa Chamber of Commerce.
Key points
South African companies can now consider operating from Australia to participate in the Asia Free Trade Agreement which spans 15 countries and includes 30% of the global population. Vice versa for Australian companies with the African Continental Free Trade Area (AfCFTA) agreement due for implementation in 2021. This opportunity enables a company registered in both countries, ability to conduct business under Trade Agreements with nearly half the global population.
Wesgro is in discussion with Qantas on Cape Town to Perth direct flights. Imagine being able to receive South Africa’s world class fresh produce in Perth’s markets.
- The ASX is South Africa’s single largest investor in the mining industry (followed by Canada and UK)
- Australia is South Africa’s 7th largest foreign country investor
- Australian’s grew up eating South Africa’s Sea Harvest produce from Woollies and Coles fish fingers and was also sold in fish and chip shops around Australia
- African Mining Indaba is Australia’s most substantial economic diplomacy event in Africa
- In 2019, 110,000 Australians visited South Africa and 61,300 South Africans visited Australia
- South Africans are Australia’s 7th largest migrant group at 194,000
- Australia’s investment into South Africa R71Bn in 2019 (17% increase)
- South Africa’s investment into Australia is R97Bn in 2018 (8% increase)
Please click on the following link for a copy of the recording: https://youtu.be/S8XGJs-m8w4
