19:35 GMT27 February 2021
Listen Live
    Get short URL
    St. Petersburg International Economic Forum 2017 (183)
    0 32

    South Africa wants to encourage Russia to invest more in the country, Bulelani Magwanishe told Sputnik on the sidelines of the SPIEF.

    ST. PETERSBURG (Sputnik) — South Africa wants to encourage Russia to invest more in the country, in particular, in its high-tech sphere, Deputy Minister of Trade and Industry of South Africa Bulelani Magwanishe told Sputnik on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

    "There are a number of areas that Russia could invest in. First, in agroprocessing. Also, investment in high-tech areas, especially defense. Moreover, there is cooperation on railways, aviation, maritime service, high education. So there is a lot of cooperation between us, and Russia does invest, but we want Russia to invest more in South Africa, and to invest in Russia. There are high prospects for investment in high-tech," Magwanishe said.

    South Africa wanted to improve its trade and investment relations with Russia, which are "still lagging behind China and India," the deputy trade minister noted.

    "We want to improve them, and that’s why we are here [at the forum], to try to promote South Africa," Magwanishe outlined.

    SPIEF, held in Russia's second largest city between Thursday and Saturday, is a major global platform for communication between business representatives and discussion of crucial economic issues. Sputnik News Agency is the official media partner of the forum.

    St. Petersburg International Economic Forum 2017 (183)


    Russia Wants to Set Up Service Center for Tanks, Small Arms in South Africa
    Russia to Showcase Advanced Helicopter Models at South Africa Expo
    Russia's Arms Exporter to Showcase Modern Munition at Expo in South Africa
    South Africa, Russia Prepare Industrial Cooperation Memorandum
    investments, St. Petersburg International Economic Forum (SPIEF) 2017, Russia, South Africa
    Community standardsDiscussion