In order to strengthen bilateral trade and investment relations between the countries, South Africa and Chile agreed to cooperate in areas of trade and industry promotion, value chains, decarbonisation and critical minerals as well as Micro, Small and Medium Enterprises (MSMEs) and women-led enterprises. The agreement was signed at the 8th meeting of the Joint Trade and Investment Commission (JTIC) between South Africa and Chile in Pretoria yesterday.
The JTIC was jointly led by the Deputy Minister of Trade, Industry and Competition, Mr Zuko Godlimpi and the Chilean Vice Minister of Trade, Ms Claudia Sanhueza Riveros.
Addressing the South Africa-Chile Business Engagement Dialogue later in the day, Godlimpi said both countries have identified concrete steps to increase and further diversify trade and investment. He said these includes exchange of products of export interest, both trade in goods and services.
“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.
Godlimpi pointed out that while both countries used the opportunity to discuss trade and investment opportunities that exist between our two countries, it would also be important to understand opportunities that the private sector identify, as well as challenges.
“For Chilean companies operating in South Africa, there will have access to markets in Europe Union, the European Free Trade Association, Mercosur and also in the continent of Africa through the Africa Continental Free Trade Area. There is a great potential for South Africa to serve as gateway for Chilean companies into Africa,” added Godlimpi.
Godlimpi further said that South Africa and Chile considered 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 MSMEs, 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.
The Deputy Minister of Trade, Industry and Competition, Mr Zuko Godlimpi and the Vice Minister of Trade in Chile, Ms Claudia Sanhueza Riveros after signing an agreement during the South Africa-Chile Business Engagement Dialogue held in Pretoria.
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