IRISH EXPORTS to South Africa increased by nearly 25 per cent last year, according to Enterprise Ireland, which will this week open a new office in Johannesburg.
Minister of State for Trade Jan O’Sullivan and representatives from 28 Irish companies arrived in South Africa yesterday to begin a week-long trade mission to meet potential partners in Johannesburg and Cape Town.
South Africa has become Ireland’s fourth most important trading partner after the European Union, the United States and Australia in recent years, according to Enterprise Ireland’s John McNamara.
Last year Irish exports to South Africa amounted to well over €0.5 billion, while South African exports to Ireland of well over €100 million grew by 7 per cent.
South Africa has one of the most sophisticated business environments in Africa and is the regional economic powerhouse in sub-Saharan Africa, accounting for 30 per cent of total gross domestic product.
This week’s trade mission is the third to be undertaken in the last four years.
“The number of Irish companies investing in South Africa has grown dramatically, as it is seen as a high growth market that is familiar in a business sense. The banking system is similar and there are no time zone or language issues,” said Mr McNamara.
