TEHRAN – An Iran-South Africa business forum is due to be held at the Department of International Relations and Cooperation (DIRCO) office in Pretoria on Monday, CNBC Africa reported.

The forum is going to be held on the sidelines of the Iran-South Africa Joint Economic Committee meeting which is to be co-chaired by Iranian Foreign Minister Mohammad Javad Zarif and the Minister of DIRCO, Maite Nkoana-Mashabane.

Minister Zarif is due to visit the country aiming to build on the commitments made during the visit by President Jacob Zuma to Iran in 2016 and reinforcing discussions held by senior officials on July 18, 2017.

A trade delegation will also accompany the Iranian minister in his visit to the country to attend the business forum.

The delegation will consist of business representatives from the automotive, agriculture, agro-processing, mining, energy, pharmaceuticals, oil and gas.

According to South African Minister of Trade and Industry Rob Davies, the business forum will address among others, trade, investment, economic development and industry related issues.

“The Middle East features as a pivotal trade and investment partner for South Africa and Iran in particular offers vast trade and investment opportunities for the South African businesses. Iran is the second largest economy in the Middle East region in terms of Gross Domestic Products (GDP) totaling $438 billion in 2016 and the largest market in terms of population (80 million people)” said Davies.

Davies added that the visit also affords South African firms an opportunity to network with key decision-makers from Iran, captivating on prospects and gains presented in both sides. 

EF/MA