WesGro makes strides to promote WC as favourable investment destination

CAPE TOWN - The Cape Town and Western Cape Tourism, Trade, and Investment Promotion Agency - WesGro - said it has made strides in accessing new markets to promote the province as a preferred investment destination.

WesGro is briefing the Province's Standing Committee on Agriculture, Economic Development and Tourism on the work it has done to promote the city and the province.

This comes as South Africa faces 30% tariffs on imports into the United States that will have a negative impact on sectors such as agriculture and manufacturing.

WesGro CEO Wrenelle Stander said access into new markets is not easy, however work is ongoing to build strong trade relations with other countries.

"We have been quietly busy with opening up those newer markets. In China, we work with Standard Bank, and, in fact, we have worked on multiple missions so we have a much better understanding of how the Chinese market works and we have already taken Western Cape companies into China as we will do in September, when we take Western Cape businesses into India."

However, WesGro said the looming US tariffs are not the reason the province is seeking newer markets.

"So, no we are not responding to the current geo-political context. We were responding to the Western Cape government's strategy of tripling exports and that is what the trigger was," explained Stander.

She said lots of work still needs to be done to build strong trade relations.