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City highlights Cape Town’s export and investment opportunities with US delegation

STATEMENT BY ALDERMAN JAMES VOS, MAYORAL COMMITTEE MEMBER FOR ECONOMIC GROWTH The City’s Mayoral Committee Member for Economic Growth, Alderman James Vos, recently sat down with a trade mission delegation from the US city of Houston in Texas to discuss opportunities for export and investment with Cape Town

The delegation was led by the Houston International Trade Development Council and aimed to explore the local business climate and work towards potential investment agreements. Houston is also one of Cape Town's sister cities, an agreement focused on matters including energy, tourism and infrastructure. 'Our goal as the City government is to build a stronger, more resilient and inclusive economy. Towards this end, we are forging stronger relations with partners in key source markets for the furtherance of investment and trade opportunities. Last year, the US ranked as the province's biggest export market, with Cape products valued at nearly R17 billion making their way into the US. This is up 57,5% from 2020. The US additionally ranks as one of the Cape's biggest sources of foreign direct investment. Cape Town can very much further capitalise on the clear global appetite for our products and services,' said the City's Mayoral Committee Member for Economic Growth, Alderman James Vos. <figure class="subtopic-fullsize-img"> <img src="https://resource.capetown.gov.za/cityassets/Media%20Centre/trade%20delgate.jpg" class="responsive" alt="" style="width:776px;" /> </figure>In highlighting trade opportunities, Alderman Vos noted that the City and its partners had formulated platforms that would make it easier to source Cape products and land investments. 'The City proudly funds the <a href="https://capetradeportal.com/">CapeTradePortal.com</a>, a digital marketplace that connects local exporters with potential buyers and further serves as a dedicated centre of skills resources. Supporting the Cape Portal fulfils our commitment of ensuring that our producers get access to markets, which leads to business growth and greater job opportunities,' said Alderman Vos.The portal is administered by Wesgro, the investment promotion agency for the province and Cape Town. <figure class="subtopic-fullsize-img"> <img src="https://resource.capetown.gov.za/cityassets/Media%20Centre/trade%20delgate1.jpg" class="responsive" alt="" style="width:1028px;" /> </figure>Through the portal, exporters can tap into training and mentoring programmes, keep updated on upcoming trade exhibitions, get support with non-tariff export barriers as well as assistance with regulatory and compliance requirements.'I also shared that the City's special Investment Facilitation Branch (IFB) within the Enterprise and Investment Department is dedicated to helping businesses and investors to land and expand their operations in Cape Town. These initiatives show that we are continuously working to make Cape Town the easiest and best place to do business which will, in turn, help more Capetonians access jobs and be more active roleplayers in the economy,' said Alderman Vos. <figure class="subtopic-fullsize-img"> <img src="https://resource.capetown.gov.za/cityassets/Media%20Centre/trade%20delgate3.jpg" class="responsive" alt="" style="width:1370px;" /> </figure>End

2022-09-08T22:00:00Z

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