South Africa trebled its trade with GCC states to about $800 million in 1993, two years after Gulf Arab states ended anti-apartheid sanctions. Further increases are expected and a trade office will be set up in Dubai, according to Gyfford Fitchat, head of the Middle East department at the South African Foreign Trade Organisation.
Trade with the UAE, where South Africa is holding its second Middle East exhibition in May, rose by 400 per cent to $180 million. Pretoria will also use its Dubai trade office to promote exports to Iran, where the government recently gave the go-ahead for normal ties. South Africa's exports mostly consist of consumer goods, domestic appliances and machinery, and its imports are almost exclusively oil.
You might also like...
Rainmaking in the world economy
19 April 2024
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.