“The door is open to the Western Cape for Canada to boost investment,” was the key message from a high-level meeting between Canada’s minister of finance, François-Philippe Champagne, and Western Cape minister of agriculture, economic development and tourism, Dr Ivan Meyer, held in Cape Town recently.
The meeting was aimed at reaffirming the importance of strengthening trade and investment relations between the Western Cape and Canada.
“In 2023, South Africa’s exports to Canada were valued at R8.28 billion. Citrus fruit, both fresh and dried, was the leading export category, accounting for R1.69 billion or 20.42% of the total export value,” Meyer said.
Strengthening trade and investment
He noted that the Western Cape played a significant role, with exports totalling R3.04 billion in 2023. Imports from Canada into the province rose by 13.93% year-on-year, reaching R0.84 billion, up from R0.74 billion in 2022.
“The Western Cape’s top export to Canada was citrus fruit, valued at R1.02 billion, which represented 33.64% of the province’s total exports to the North American nation.”
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The department stated that the meeting also highlighted positive developments in bilateral investment. Between January 2014 and May 2024, Canada invested in 26 projects in South Africa, totalling R15.57 billion in capital expenditure. During the same period, South Africa invested in 13 projects in Canada, amounting to R3.68 billion in capital expenditure.
Tourism bounces back
Tourism between the two countries has also seen a strong rebound. In 2023, South Africa welcomed 55 056 Canadian tourists, a 55.08% increase compared with 2022 and 82.70% of pre-pandemic (2019) levels. The Western Cape alone received over 28 650 Canadian visitors, surpassing 2019 figures by 17.60% and reflecting a year-on-year growth of 59.59%.
“These figures reflect the growing strength of our economic, investment, and tourism ties with Canada. We are also looking forward to welcoming Francois Legault, the premier of the Canadian province of Quebec, to Cape Town later this year as a member of the Regional Leaders Summit, which consists of Quebec (Canada), Georgia (USA), and São Paulo (Brazil), Upper Austria (Austria), Bavaria (Germany), Shandong (People’s Republic of China) and the Western Cape (South Africa),” Meyer said.
A delegation from the Western Cape’s tourism, trade and investment promotion agency (Wesgro) will also 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,” he said.
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