Trade show participation and trade missions across Africa, the Americas, Asia, Europe and the Middle East are expected to generate R3.5-billion in trade in the 2015/16 financial year, the Department of Trade and Industry (DTI) said this week.

South Africa’s participation in 24 trade missions and various local companies’ participation in 27 national pavilions had generated R2.77-billion in export sales during the prior financial year.

While traditional trade partners in established markets, such as Europe and countries within the North American Free Trade Agreement area, dominated export sales, at over R1.7-billion, in the previous financial year, the DTI and business delegations facilitated export sales to the rest of Africa of R254-million, with export sales to Latin America and Asia valued at R294-million and R400-million respectively.

This year, with 29 trade shows and 32 trade missions in the works, the R3.5-billion target would be met with R1.5-billion worth of export sales facilitated from Europe; R525-million from Asia; R350-million from Africa; R350-million from Latin America; R400-million from North America; and R375-million from the Middle East, Trade and Industry Minister Dr Rob Davies said in a Parliamentary reply.

Of the trade missions planned to traditional markets and high-growth emerging markets, 17 would be in the most strategic market for South African value-added exports – Africa.

Further investment and trade initiatives were mapped out for South Africa’s counterparts within the Brics economic bloc of countries, namely China, India, Russia and Brazil.

A targeted 1 025 South African companies would take part in 29 trade shows during the current financial year.

The DTI would also facilitate eight inward buying missions for international buyers – three from the Americas, five from Asia, one from Europe and two from the Middle East.

In the current financial year, trade missions and trade shows had already taken the DTI and business delegations to Indonesia, Zimbabwe, Zambia, Turkey, the Netherlands, Belgium, India, Nigeria, China and Latin American, securing multiple declarations and cooperation strategies and yielding export sales of nearly R1-billion.