Posted: October 23, 2019
the dti to Host 5th Session of the South Africa-Slovakia Joint Council on Economic Cooperation
|The Department of Trade and Industry (the dti) will host the 5th Session of the South Africa-Slovakia Joint Council on Economic Cooperation (JCEC), that will be co-chaired by the Deputy Minister of Trade and Industry, Mr Fikile Majola and his Slovak counterpart, Mr Vojtech Ferencz in Pretoria on Thursday, 24 October 2019.
The JCEC was established through the signing of an economic agreement between South Africa and Slovakia in 2005, following the latter’s secession from Czechoslovakia in 1993, and its ascension to the European Union.
Majola explains that the rationale behind the signing of this cooperation agreement with the Slovaks was to mainly to facilitate and promote bilateral trade, strengthen investment, and to identify and agree on mutually beneficial areas of cooperation.
“The 5th Session will be preceded by a technical meeting between our experts and the Slovaks, where there will be a review of bilateral trade and investment, as well as policy developments since the last JCEC. There will also be discussions encompassing the Investment Promotion Act and the African Continental Free Trade Area (AfCFTA), which our country has ratified,” he says.
Majola adds that some of the specific areas of cooperation to be discussed include the automotive sector, mineral beneficiation, cooperation in textiles and clothing, as well as cooperation in the field of energy, agriculture and Special Economic Zones.
All the above deliberations will culminate with the signing of the Joint Protocol Agreement between Deputy Ministers Majola and Ferencz, which will then pave the way to better cooperation and increasing the volumes of cooperation and trade amongst our respective countries.