SA to participate at ITEC meeting

International Relations and Cooperation Minister Lindiwe Sisulu will visit Moscow, Russia where she will co-chair the annual South Africa-Russia Intergovernmental Committee on Trade and Economic Co-operation (ITEC).

The 15th session of the ITEC will take place from 19-21 November 2018.

The South Africa-Russia Business Forum will take place on the margins of ITEC and present its report to the Ministerial Plenary session on 21 November 2018.

The ITEC, co-chaired by Minister Sisulu and the Russian Minister of Natural Resources and Environment Minister Dmitry Kobylkin, takes place within the context of the bilateral agreement that was signed in 1999 and revived in 2002.

The agreement gives impetus to the political commitment between the two countries to broaden and deepen their relations.

These engagements are further guided by the Treaty of Friendship and Partnership signed in September 2006, as well as by the Declaration of Strategic Partnership signed in March 2013 in Durban, South Africa.

The ITEC forum is comprised of a number of sub-committees, amongst them the committees on Trade, Investment and Banking Co-operation; Mineral Resources; Agriculture, Forestry and Fisheries; Water Resources; Science, Technology and Space; Energy; Justice; and Higher Education.

During the 14th ITEC Session in South Africa, an assessment of progress was made and other new possible areas of co-operation were explored.

Both sides noted strides made by most ITEC sub-committees and there was general consensus that the ITEC mechanism affords both sides a unique opportunity to enhance trade between the two countries.

The Ministers agreed that both sides should take stock of all agreements/memorandum of understanding (MoU) signed between the two countries and make an assessment of their relevance and progress on implementation.

The Ministers further instructed that outstanding MoUs and agreements should be prioritised and finalised to take forward the work of the ITEC.

Two agreements on co-operation in the field of agriculture and in the field of water resources, respectively, were signed on the margins of the BRICS Summit in July 2018.

Source: South African Government News Agency

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