"The door is open to the Western Cape for Canada to boost investment," was the key message from a high-level meeting held in Cape Town between Canada's Minister of Finance, François-Philippe Champagne, and Western Cape Minister of Agriculture, Economic Development and Tourism, Dr. Ivan Meyer. Both parties reaffirmed their commitment to strengthening trade, investment, and tourism relations between the Western Cape Province and Canada.
"In 2023, South Africa's exports to Canada were valued at approximately US$440 million," said Minister Meyer. "Citrus fruit, both fresh and dried, was the leading export category, accounting for about US$90 million, or 20.42% of the total export value."
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The Western Cape played a significant role, contributing around US$161 million in export receipts. Imports from Canada into the province rose by 13.93% year-on-year, reaching approximately US$45 million, up from US$40 million in 2022. The Western Cape's top export to Canada was citrus fruit, valued at roughly US$54 million, representing 33.64% of the province's total exports to the North American nation.
The meeting also highlighted positive developments in bilateral investment. Between January 2014 and May 2024, Canada invested in 26 projects in South Africa, totaling around US$830 million in capital expenditure. Over the same period, South Africa invested in 13 projects in Canada, amounting to approximately US$195 million in capital expenditure.
Tourism between the two countries has also shown strong growth. In 2023, South Africa welcomed 55,056 Canadian tourists, a 55.08% increase compared to 2022 and 82.70% of pre-pandemic (2019) levels. The Western Cape received over 28,650 Canadian visitors, surpassing 2019 figures by 17.60% and reflecting a 59.59% year-on-year increase.
"These figures reflect the growing strength of our economic, investment, and tourism ties with Canada," said Minister Meyer. "We are also looking forward to welcoming François Legault, the Premier of the Canadian province of Quebec, to Cape Town later this year for the Regional Leaders Summit."
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The summit includes regional leaders from Quebec (Canada), Georgia (USA), São Paulo (Brazil), Upper Austria (Austria), Bavaria (Germany), Shandong (China), and the Western Cape (South Africa).
A delegation from the Western Cape's tourism, trade, and investment promotion agency, Wesgro, is also set to undertake a trade mission to Canada in September and attend the Vancouver Wine Show in 2026.
"We are committed to deepening this relationship for the benefit of both regions," Minister Meyer concluded.
© Western Cape GovFor more information:
Daniel Johnson
Western Cape Government
Tel: +27 27 0799904231
Email: [email protected]
www.westerncape.gov.za
