Islamabad: South Africa’s High Commissioner, Methuthuzeli Madikiza, said on Thursday that the country views Pakistan as an important market for commercial cooperation and that the two nations have a lot of potential in many fields.

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During his visit to the Rawalpindi Chamber of Commerce and Industry (RCCI), the envoy voiced similar sentiments. According to the ambassador, bilateral commercial contacts between chambers of commerce and the private sector in both nations need to be strengthened further.

According to the High Commissioner, bilateral trade is currently valued at less than one billion dollars, but might reach $2 billion in the coming years.

He informed the Pakistani business community that the South African High Commission will assist them in connecting with South African counterparts in order to promote partnership in areas of common interest.

President of the RCCI, Nadeem Rauf, updated the high commissioner on the chamber’s current and future initiatives. He advised that trade-related information be discussed and exchanged at the delegation level in order to increase trade with South Africa.

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He also informed the high commissioner about Pakistan’s investment potential. He also mentioned that Memorandums of Understanding were inked with South Africa and the Minara Chamber to enhance chamber-to-chamber connections. He concluded that joint ventures can be formed in the domains of information technology and construction, as well as in pharma, marble, engineering, poultry, and textiles.

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