Earlier in the week I discussed how to open a business in South Africa if you are a foreign business owner. The Egyptian Ambassador to South Africa Mr Sherif Naguib has recently urged the South African and Egyptian business communities to take advantage of the cordial relations that exist between the two countries to consider working together, in order to increase trade and investment between Egypt and South Africa. He stated that “South Africa and Egypt have created a conducive political environment for business to operate in. The onus rests with businesspeople from our countries to explore the multiple business opportunities that exist by establishing joint ventures and investing in various sectors of our respective economies." This began in 2010 when Jacob Zuma paid a visit and focused on the need for a common platform for businesses of both countries to meet.

There is also an ongoing discussion for a free-trade zone between Cape Town and Cairo. Likely business sectors to be affected are agriculture and agro-processing, building, construction, chemical and allied industries and investment, information communication technology, telecommunications and tourism. If you are an Egyptian company and have questions regarding expanding your business or trade here in South Africa, give us a call at New World Immigration.