By Edwin Tshivhidzo

PRETORIA, July 16 (NNN-BUANEWS) -- A South African delegation will be embarking on a mission to attract foreign investment from the United States, .

The delegation, under the leadership of Trade and Industry Department Deputy Director-General Igbal Sharma, together with the International Marketing Council of South Africa, will leave for the US on July 21.

The objective of the mission is to support the activities that are currently gaining momentum in the US and to strengthen the relationship between the two countries. The mission will also reach out to small, medium and macro companies with a view to expanding their businesses in South Africa.

Addressing the media here Tuesday, Sharma said emphasis would be placed on attracting investments in the agro-processing, energy and manufacturing sectors in the states of Minnesota and Florida.

"The US is South Africa's largest trade partner and we hope to take advantage of opportunities there," Sharma said.

Regarding South Africa's electricity crisis and whether South Africa should be trying to attract more businesses which would in turn lead to more pressure on the system, Sharma said he could not see any reason why foreign investors would be threatened by a lack of energy.

Already, US companies in South Africa are benefiting from the African Growth and Opportunities Act (AGOA) of the US which allows for selected African products to enter the US market duty free.

South Africa is Minnesota's biggest trading partner in Africa with exports from Minnesota to South Africa increasing over recent years. A representative of the Council of Great Lakes Governors, Richard Zurba, described the South African market as a fast adaptor of new, innovative and high-tech imports.

"American technological innovations, combined with a current low US Dollar allows American companies to compete favourably against domestic and international competition in the market," he said.

Florida and Minnesota fall within the top ten states in the US in terms of their percentage share of each state's contribution to the US Gross Domestic Product (GDP).

The delegation will comprise regional investment agencies and Industrial Development Zones presenting a number of selected bankable projects currently available in the regions. -- NNN-BUANEWS