PRETORIA– 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 here last week, South Africa and the South American country focused on efforts to strengthen bilateral economic relations, the Department of Trade and Industry (dti) says.
The department’s Chief Director of Bilateral Relations, Victor Mashabela, said Monday 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 co-operation, said Mashabela.
The meeting, added Mashabela, agreed to support the formation of a business council between South Africa and Chile.
Furthermore, it was emphasized 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 of 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.
The JTIC members also expressed commitment to the implementation of the Memorandum of Understanding on Geology and Mining and to convene the 5th JTIC meeting in Chile next year.
Source: NAM NEWS NETWORK