Dti sets its sights on Russia

The Department of Trade and Industry (the dti) and a delegation of more than 30 South African enterprises are in Russia this week for the Moscow International Trade Initiative (ITI).
The Minister of Trade and Industry, Dr Rob Davies, says the ITI is part of the dti’s export and investment promotion strategy that focuses on Russia, amongst others, as a high-growth export market.
South Africa’s export basket to Russia is dominated by primary sector products, particularly the agricultural sector consisting of citrus fruits, apples, and pears, whereas the Russian Federation’s exports basket is concentrated more on fabricated products.
According to Davies, there has been a substantial growth in total trade between the two countries between 2006 and 2011 (from R2.566.2 billion to R3.261.705 billion respectively). South African exports increased from R670 million in 2006 to R2.020.4 billion in 2011.