PRETORIA, March 3 (NNN-SANEWS) — South Africa and Chile have signed an agreement that will see the two countries cooperate in areas of trade and industry promotion, decarbonisation and critical minerals among others, the Department of Trade, Industry and Competition (dtic) said.
The agreement was signed at the 8th meeting of the Joint Trade and Investment Commission (JTIC) between South Africa and Chile in Pretoria on Friday.
The agreement also extends to strengthening bilateral trade and investment relations in micro, small and medium enterprises (MSMEs) and women-led enterprises as well as value chains.
The JTIC was jointly led by the Deputy Minister of the dtic, Zuko Godlimpi and Chilean Vice Minister of Trade, Claudia Sanhueza Riveros.
Godlimpi said both countries have identified concrete steps to increase and further diversify trade and investment. These include exchange of products of export interest.
“In addition, we have also agreed on decarbonisation and adding value to our critical minerals, as President Cyril Ramaphosa has said that an era has passed whereas developing countries we find ourselves at the lower levels of global value chains.
“We agreed to explore cooperation to encourage beneficiation of these critical minerals. Beneficiation opportunities will include cooperation of fuels cell and battery manufacturing,” said Godlimpi.
The Deputy Minister pointed out that while both countries used the opportunity to discuss trade and investment opportunities that exist between them, it would also be important to understand opportunities that the private sector identify, as well as challenges.
“For Chilean companies operating in South Africa, they will have access to markets in [the] Europe Union, the European Free Trade Association, Mercosur and also on the continent of Africa through the Africa Continental Free Trade Area. There is a great potential for South Africa to serve as [a] gateway for Chilean companies into Africa.”
He further said that South Africa and Chile consider cooperation in small and medium enterprises and women-led enterprises as critical to promoting inclusive trade.
“There will be cooperation in exchange of knowledge and expertise, integration into global value chains, start-up programmes, export opportunities for incubators and finance for small businesses. Relevant ministries and agencies tasked with small and medium enterprises and women-led enterprises will make contact with each other before end of April 2025,” he said. — NNN-SANEWS
