South Africa and Chile have agreed to enhance trade and investment, and committed to further cooperate towards achieving this objective under the Joint Trade and Investment Commission (JTIC). The agreement arose during the 4^th South Africa – Chile JTIC meeting held in Pretoria.

The meeting which was held by senior officials from different government departments from both countries, focused on strengthen bilateral economic relations between South Africa and Chile.

According to the Chief Director of Bilateral Relations at the Department of Trade and Industry, (the dti), Mr Victor Mashabela, the purpose of the establishment of the JTIC is for incorporation and maintenance of a dialogue on aspects of trade and regular commercial exchange.

“The other purpose is the strengthening of bilateral economic relations, promotion of investment and growth and facilitating the diversification of trade between the two countries and identifying special areas of economic cooperation,” said Mashabela.

Mashabela added the meeting also agreed to support the formation of a Business Council between South Africa and Chile.

“Furthermore, it was emphasised that South Africa will invite Chilean experts to consolidate work in (a) collaboration on Research and Development regarding Oysters breeding, (b) exchange of information on oyster breeding; (c) capacity building and training opportunities with short courses (three (3) months or less in oyster breeding). This will build on the scoping mission undertaken by South Africa through Department of Agriculture, Forestry and Fisheries in May 2017,” added Mashabela.

JTIC members were very committed to the implementation of the Memorandum of Understanding on Geology and Mining. Furthermore, they look forward to collaborating in developing an implementation plan to start the work.

The 5^th JTIC meeting will be convened in Chile in 2018.