The Diplomatic Society

 
  • Increase font size
  • Default font size
  • Decrease font size

South Africa and Russia hold fruitful talks on ITEC

 
13 November 2015

Pretoria - South Africa and Russia have held fruitful discussions at the 13th session of the Joint Intergovernmental Committee on Trade and Economic Cooperation (ITEC).
 
Speaking following the session on Thursday, International Relations and Cooperation Minister Maite Nkoana-Mashabane said all sub- committees of ITEC have agreed to strengthen the implementation of all existing commitments between the two countries.
 
“The ITEC remains the main structured bilateral mechanism between South Africa and the Russian Federation, and since 1999 it has proven to be an effective instrument in contributing directly to improved two-way trade and investment, as well as critical skills development and technology exchanges between our two countries.

 
“We have been pleased with the work of the ITEC sub-committees,” said the Minister.
 
She said that in line with its domestic priorities, South Africa continued to advocate more progress on skills development, agricultural cooperation and science and technology.
 
Other key priorities for South Africa in these discussions included cooperation on nuclear energy, transport including rail transport and systems, as well as agriculture and agro-processing industries.
 
“I am certain that our close cooperation with our Russian partners will bear significant fruits in the near future,” said the Minister.
 
Minister Nkoana-Mashabane said discussions included the need to match the two countries political partnership with strong economic and commercial relations in terms of substantive trade and investment in high value added and high technology sectors.
 
‘South Africa is still to catch-up on trade volumes with Russia, despite substantial growth in total trade between the two countries between 2009 and 2013.”
 
South African exports to Russia have increased from R1. 4 billion in 2009 to R3.8 billion in 2013.
 
“Total imports from Russia amounted to R3.6 billion in 2013.  There are thus great potential trade gains with Russia, particularly in the automotive, agro-processing and mining sectors as well as food and citrus products,” explained the Minister.
 
The Minister said by facilitating increased partnerships between South African and Russian businesses through the South Africa-Russia Business Council and government to government cooperation, these gains can be realised without delay.
 
The 13th ITEC Session has also acknowledged the contribution of sectors such as arts and culture and tourism to enhancing the strategic partnership between South Africa and Russia, as well as the clear benefits for our respective citizens that cooperation in these sectors provide.
 
The session was co-chaired by Minister Nkoana-Mashabane and Minister of Natural Resources and Environment of the Russian Federation Sergey Donskoy.
 
South Africa looks forward to renewed vigour in implementing the respective commitments prior to the 14th ITEC Session to be hosted in South Africa in 2016. – SAnews.gov.za

 

 

More News

 

 



SA open for increased German investment17/02/2020
article thumbnail

SA open for increased German investment 6 February 2020 South Africa is keen to attract higher levels of investment from Germany and to increase bilateral trade, says President Cyril Ramaphosa. The [ ... ]


Traditional Leaders: unsung heroes of the liberation struggle and colonial resistance?13/02/2020
article thumbnail

Traditional Leaders: unsung heroes of the liberation struggle and colonial resistance? By Stella Sigcau 13 February 2020 2020 marks 30 years since the release of the global icon the late former Pre [ ... ]


The fall of a legend: Joseph Shabalala of the Ladysmith Black Mambazo passes13/02/2020
article thumbnail

The fall of a legend: Joseph Shabalala of the Ladysmith Black Mambazo passes By Stella Sigcau 12 February 2020 On 11 February 2020 South Africans woke up to the sad news of the passing of a musical [ ... ]


Foreign Affairs of Australia – South Asia: Resting a New Agenda for the 21st Century11/02/2020
article thumbnail

Foreign Affairs of Australia – South Asia:  Resting a New Agenda for the 21st Century 11 February 2011 By Srimal Fernando and Ellise Camilleri There is much scholarship on the rising power  [ ... ]



 

 


 
 
 
 
 
 
 
 
 
 
 
 
 
_________________________________________________

January/February 2020

 
 
.
_________________________________________________

Translater


 

 

  
 
 
 
 

 
 
                                                     
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 

<|> <|> Indonesian Tourism responds to Millennials and wins Award 8 October 2019 "The challenge to the tourism world is not getting easier. It is not only the global economic slowdown, but also a change in... <|> A MEMORIAL, CORONATION, ENGAGEMENT AND A WEDDING: A ROYAL AFFAIR by Stella Sigcau 15 October 2019 September and October months were very busy in the royal calendars throughout South Africa... <|> Culture and Heritage Tourism Boost the Economy of the Mpondo Kingdom Mbotyi and Mngazi 15 October 2019 By Stella Sigcau Mpondo Kingdom is known for its cultural richness, beautiful... <|> SADC enhances cooperation with Indonesia 15 October 2019 ”Indonesia is ready to be part of the African development, especially in the southern African region” Photo: Ambassador of the Republic... <|> A rising star ready to make it internationally by Stella Sigcau 16 October 2019 Azemahle Lwanda Matebese a 13 year old, grade 8 scholar from Durban Girls High School has had a passion for dancing... <|> Korea calls for ease of doing business in SA 2 October 2019 This year marks Korea’s 4,352nd anniversary since its national foundation, and the 71st anniversary of its Armed Forces Day. In South... <|> Russia-Africa look to deepen scientific ties 14 October 2019 With a week to go until the first ever Russia-Africa Summit, Russia has emphasised the need to expand and deepen scientific ties between... <|> SA, Nigeria commit to condusive business environment 4 October 2019 The governments of South Africa and Nigeria have committed to creating a conducive business environment that will make it easier... <|>
© copyright 2011-2017| The Diplomatic Society| All Rights Reserved.