The Diplomatic Society

 
  • Increase font size
  • Default font size
  • Decrease font size
10th South Africa-Russia ITEC

Pretoria - South Africa and Russia have agreed to increase their cooperation in various fields, including technology, energy, trade and investment.
This emerged after the inter-sessional meeting of the Intergovernmental Committee on Trade and Economic Co-operation (ITEC) - a platform for the South African and Russian Federation governments to discuss political and economic relations between the two countries - held in Pretoria.
The meeting was chaired by International Relations and Cooperation Minister Maite Nkoana-Mashabane and the Russian Minister of Natural Resources Yuri  Trutnev and it sought ways to enhance cooperation and relationships that already exist between the two governments, their people and businesses.
Although strategically poised, bilateral trade between South Africa and Russia has fallen below its potential.
To strike a balance, the two ministers agreed to take steps to increase trade, while shifting the focus to high value-added products, as well as to enhance cooperation in high-technology areas.
Nkoana-Mashabane said that they will exploit new trade and investment opportunities and identify and resolve potential obstacles in areas of cooperation.
“This will facilitate economic competitiveness, develop skills, generate sustainable jobs and contribute towards an improvement in the livelihoods of the peoples of South African and Russia,” said Nkoana-Mashabane.
Russia, which has highly skilled people in science and technology, offers huge opportunities for trade and investment partnerships, especially in minerals, energy, agriculture, education and skills development.
Nkoana-Mashabane was confident that the accession of South Africa to the BRIC group (Brazil, Russia, India and China), which has been renamed BRICS, will further reveal the potential for future cooperation, especially in science, technology and space.
Commenting on Russia’s investment direction in SA, Trutnev said the cooperation was diversified and the two countries complemented each other in different areas such as minerals, energy, space and raw materials, gold and diamonds.
Trutnev was confident great things lay on the horizon for Russian and South African trade.
Already, total trade turnover between South Africa and the Russian Federation increased by 6.42% in 2009, from US $484 million to $517 million.
The two parties also agreed to frequent interaction through the business council in order to enhance knowledge of commercial opportunities, while prioritising capacity building and skills transfer, particularly in high technology areas.
On issues of mutual interest, Pretoria hoped that the BRICS countries would cooperate in securing Africa the Square Kilometre Array (SKA) radio telescope. If Africa wins the bid against Australia – a decision expected in March 2012 – this will be a major step in developing high-level skills and cutting-edge technology infrastructure in Africa, and attract expertise and collaborative projects to the continent.
For its part, Russia flagged their confidence in South Africa ahead of the 17th Conference of the Parties (COP17) on climate change in Durban later this year.
The meeting was sealed by the signing of two agreements on solar cooperation.
The next ITEC meeting will be held in 2012. - BuaNews
 


 
 
 
 

_________________________________________________
_________________________________________________

Translater


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Strenghtening Maritime Cooperation for a Peaceful, Stable and Prosperous Indian Ocean 9 March 2017 President Jacob Zuma has returned to Pretoria after a successful State Visit to Indonesia, which... <|> Pygmy Intervention Project 13 March 2017 The Pygmy community of the Central African Republic became a focal point at a gala dinner recently held in Pretoria at Burgers Park hotel. The gala dinner... <|> France and South Africa cooperation Visit of French Secretary of State for Transport, Oceans and Fisheries: Minister Alain Vidalies 7 – 10 March 2017 During his visit in South Africa between 7... <|> 6th African Film Week in Athens 13 March 2017 The 6th African Film Week taking place in Greece, brings to the big screen charming images from the African Continent: Urban legends, exoticism from... <|> Easing travel regulations between South Africa and Kenya 3 May 2016 South Africa and Kenya have announced measures that will make travelling between the two countries easier. South African Home... <|> Early warning centre for South Africa and Nigeria 14 March 2017 South Africa and Nigeria have agreed to establish an early warning centre to help mitigate and monitor possible threats and violence... <|> Abron Band from Iran share peace with music at Tsarogaphoka Primary School by Kgomotso Kgoale 14 March 2017 Kgwebong Consulting, an Organisation Development company that is dedicated to the... <|> Arctic Council at 20: Making a Difference Regionally By Srimal Fernando, Global Editor, The Diplomatic Society  We all know the temperatures are rising in the Arctic twice as fast as the... <|> Marrying of two iconic World Heritage Sites: South Africa’s Robben Island and Mauritius’ Le Morne Cultural Landscape 20 March 2017 Robben Island World Heritage Site (RIWHS) and Le Morne... <|> Freedom Park pays tribute to Sweden 21 March 2017 Human Rights Day is a significant day to South Africans for remembering not only the 69 people, who were killed during the Sharpeville Massacre,... <|>
© copyright 2011-2017| The Diplomatic Society| All Rights Reserved.