Cape Town: Deputy President Cyril Ramaphosa says Cuba is an opening market and it is wise for South African companies to invest in that country.
The Deputy President said this when giving members of Parliament (MPs) feedback on the progress made to forge economic and political ties during his recent visits to Cuba, Mexico and Sweden between 19 and 28 October 2015.
He said companies of the world were now looking at Cuba as an investment destination following its renewed diplomatic relations with the United States.
“We think that Cuba is an opening market. It is an opening market which South Africa should be wise to take up.
“We are becoming wise and we are wise indeed and we are forward looking.
“We have friendly relations with Cuba and we want to be in pole position as the Americans and Europeans begin to invest in Cuba. We want them to find us there having set our foot there and having invested,” he said.
The Deputy President said when he landed in Cuba, he was accompanied by a high level business delegation that has already snapped up investment opportunities in the fields of mining and manufactured goods.
“We can expect that those companies will be able to invest in Cuba and similarly, Cuba is going to be buying a number of products.
“I can tell you one of the businesses is going to be investing in Cuba in the mining sector and a number of manufactured goods that are going to be supporting that investment will be coming from South Africa.
“If you wanted to visit Cuba today, you will find that you don’t even get hotel space any longer because the world is flocking to Cuba,” he said.
He said South Africa has strong relations with Cuba that are rooted in its contribution to the struggle against apartheid.
The Deputy President said bilateral meetings were held with President Raul Castro, First Vice President Miguel Diaz-Canel and Second Vice President Salvador Valdés Mesa.
“South Africa congratulated Cuba on the resumption of diplomatic relations with the United States and expressed its support for Cuba.
“Cuba pledged to continue its support for human development in South Africa.
“Over 300 Cuban doctors, engineers and maths and science teachers are working in areas of need in South Africa.
“Close to 3 000 students are currently studying medicine in Cuba,” he said.
Solid relations with Sweden, Mexico
Meanwhile, the Deputy President said Sweden regards South Africa as a partner of strategic importance.
He said that through the Bi-National Commission held in Stockholm, South Africa and Sweden agreed to expand economic relations, especially in areas like energy, ICT, mining and transport infrastructure.
“In promoting skills development and training, Sweden agreed to extend the existing scholarship programme – which was due to end in 2016 – until 2021.
“To date, 23 South African students have obtained Masters’ Degrees from the World Maritime University.
“A business forum of South African and Swedish business leaders discussed various opportunities for partnership, trade and investment.”
On his visit to Mexico, the Deputy President said while the visit was primarily to accept the chairpersonship of the Open Government Partnership — a grouping of about 60 countries committed to transparent governance, democracy and human rights — it presented South Africa with an opportunity to learn more about the successes of the Mexican economy and to unlock opportunities in trade and investment.
He said a successful networking breakfast was held with business leaders who expressed interest in the automotive value chain, mining, aerospace, agro-processing, pharmaceuticals, small business, tourism, ICT, manufactured goods and services.
“Mexico is a trillion dollar economy with huge potential for South Africa’s value added products especially in the automotive sector, aerospace industries, agro-processing and supply of mining and heavy duty equipment.”