By Lesedi Sibiya-Diplomatic Insider
South African Deputy President Paul Mashatile, will embark on a working visit to Senegal on Tuesday 7th October in order to attend the Invest in Senegal Forum. Mashatile will be accompanied by the Deputy Minister of Trade, Industry and Competition, Zuko Godlimpi.
The South African Deputy President was invited by the Prime Minister of the Republic of Senegal, Ousmane Sonko.
The forum is aimed at promoting trade and investment by connecting various business leaders and entities across the continent and the globe.
Deputy President Mashatile will also hope to improve upon the existing bilateral, economic and political relations between South Africa and Senegal.
The main focus of the visit will be to deepen trade and investment relations between the two countries as they aim to strengthen their economies through natural resources, industrialisation and manufacturing as well as ensuring the competitiveness of the country’s economies.
The guided theme of the Invest in Senegal Forum 25 is “Connecting Opportunities to build the future”.
The event will also focus its aims on highlighting the vision 2050 plan which outlines plans for Dakar to be a centre for global capital inflows, as the attendees will discuss various ways in which to bolster Senegal to be the heart of worldwide investments and will aim to achieve this through entrepreneurship and sustainable development.
The event will also give insights into various sectors which include agriculture, energy and digital technology.
The meeting between Mashatile and Sonko will aim to find ways to improve trade relations between South Africa and Senegal which currently sit at a modest level and will aim to improve on areas such as mining, agriculture and manufacturing.
Senegal’s natural resources include oil, gas and phosphate as South African firms will work to collaborate with Senegal in ways of beneficiation by processing raw materials into high value products.
South Africa will also hope to stand by its commitments to the African Continental Free Trade Area which promotes intra-African trade as well as reducing reliance on markets outside of Africa. South Africa will hope to secure partnerships in order to bolster job creation opportunities as well as economic transformation.