16 October 2017

South Africa: SA Works With Chile to Improve Trade

South Africa and Chile have agreed to further enhance bilateral trade and investment through their Joint Trade and Investment Commission (JTIC).

At a JTIC meeting of senior officials last week, South Africa and the South American country focused on efforts to strengthen bilateral economic relations, said the Department of Trade and Industry (dti).

Chief Director of Bilateral Relations at the dti, Victor Mashabela, said the purpose of the JTIC is to keep dialogue going on trade and regular commercial exchange.

"The other purpose is the strengthening of bilateral economic relations, promotion of investment and growth, facilitating the diversification of trade between the two countries and identifying special areas of economic cooperation," said Mashabela at the meeting held in Tshwane.

The meeting, said Mashabela, agreed to support the formation of a business council between South Africa and Chile.

"Furthermore, it was emphasised that South Africa will invite Chilean experts to consolidate work in a collaboration on Research and Development regarding oyster breeding, exchange of information on oyster breeding; capacity building and training opportunities with short courses (three months or less in oyster breeding).

"This will build on the scoping mission undertaken by South Africa through the Department of Agriculture, Forestry and Fisheries in May 2017," said Mashabela.

JTIC members have expressed commitment to the implementation of the Memorandum of Understanding on Geology and Mining.

The 5th JTIC meeting will be convened in Chile in 2018.

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