Trade & Investment KwaZulu Natal had signed a memorandum of understanding with Southern Africa Stainless Steel Development Association on August 16th 2011 at the TIKZN offices.

In keeping with its mandate, Trade & Investment KwaZulu Natal will not only aim to promote foreign direct investment into the province and assist local companies to access international markets but also aims to promote and highlight in particular, the growth of the stainless steel sector in KwaZulu Natal.

Stainless Steel's resistance to staining, its low maintenance, low cost, and renowned shine make it perfect for a host of applications. The 2011 export figure for stainless steel is an impressive 315,829 tonnes. Construction is the fastest growing sector of the South African economy. The industry is expected to double in size over the next six to seven years, presenting healthy opportunities for stainless steel. The use of stainless in construction is increasing rapidly due to the material's properties, including aesthetics, durability, corrosion resistance, ease of maintenance and fire resistance.

Co operation under this MOU will include, but is not limited to, the services offered by the two institutions. These services include the facilitation of:

Business expansion programs
Business development needs
Capacity building of member firms
Exchange of information regarding Market Intelligence
Buying Missions, Outward Trade Missions and Trade Leads
Market development programs
Seminars workshops
Meeting rooms
Access to databases

Mr Zamo Gwala CEO of Trade & Investment KZN said that "The ultimate result of the MOU is to promote collaboration and co operation in programs between TIKZN and SASSDA, contributing to the goals and objectives of these respective institutions."

He added that "The two organizations will work hand in hand to contribute to the growth of the stainless steel sector in KwaZulu Natal."