The faraway South Africa closes the range

On March 29 to 31, the delegation of the South African Embassy led by the Head of Economic Department of the Embassy of South Africa, Minister-Counselor on Economics Mr. Moloko Leshaba visited Tatarstan.

The guests had an extensive cultural and business program. The delegation visited SEZ "Innopolis", the University of Innopolis, high technology park "IT-park", Kazan Kremlin, Old Tatar Sloboda.

The delegation of South Africa visited Tatarstan Investment Development Agency, where the Head  of the Agency Taliya Minullina presented investment potential and told about investment policy of the region. The guests complained about lack of South African companies awareness of the opportunities, that the economy of Tatarstan and Russia in general provides, and also expressed their interest in cooperation with large enterprises of Tatarstan, such as PJSC "Kamaz" and Kazan helicopter factory.

"Indeed, we do little work with South Africa. Though, according to world statistics, foreign direct investment from South Africa to other countries amounted to $5,4 billion in 2015. Investment begins with trade processes Initially, it is necessary to establish export-import transactions of goods", - Taliya Minullina stated.

So, the Head of Tatarstan Investment Development Agency introduced the Minister-Counselor on Economics Mr. Moloko Leshaba to the CEO of JSC "Export corporation" Airat Nazmeev.

Taliya Minullina expressed her willingness to support the implementation of further meetings and negotiations between the two republics. Mr. Moloko Leshaba fully endorsed this position.

Let us recall that in 2016, Executive Director of the Islamic Council of South Africa Sheik Zafir Najjar took part in 8th International Economic Summit “Russia — Islamic World: KazanSummit 2016”.

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The South African Republic is the southernmost country of African continent. The country is rich in mineral resources. It is the most developed country in Africa and at the same time the only country not belonging to the Third world. The country has vast reserves of natural resources. Telecommunications, electricity and finance are well-developed. The major items for import are oil, food, chemical products; and for export are diamonds, gold, platinum, vehicles, cars, equipment.