On the 15th Session of the Russia – South Africa ITECOn the 15th Session of the Russia – South Africa ITEC

On 21 November 2018 Russian Minister of Natural Resources and Environment Dmitry Kobylkin and South African Minister of International Relations and Cooperation Lindiwe Sisulu co-chaired the 15th Session of the annual Russia – South Africa Intergovernmental Committee on Trade and Economic Cooperation (ITEC) in Moscow. The delegations of the two countries discussed trade, investment and bilateral cooperation in mineral resources development, science, technology and agriculture.

Minister Kobylkin noted with satisfaction that in the first 9 months of this year the trade turnover between the two countries increased by 26%, amounting to $797 million. Among the promising dimensions of bilateral cooperation he mentioned geology and the use of mineral resources. The two countries continue to successfully implement joint oil-and-gas projects. Also, Russia and South Africa closely cooperate in the processing of Platinum Group Metals (PGM), e.g. Russian group of diamond mining companies Alrosa continues to supply products used for enrichment of diamond ore to South Africa. According to Minister Kobylkin, other dynamically developing directions of the Russian – South African cooperation include infrastructure development, space exploration, science and technology.

Minister Sisulu, in turn, focused on trade and investment opportunities with a view to improve the country’s economy and create jobs. Among the spheres where bilateral cooperation could be built up she mentioned agricultural trade, water and agricultural technology, education and skills development.

The sides signed the Programme of Cooperation in Exploration, Extraction and Processing of Mineral Resources Until 2025 and the Roadmap for the Implementation of Joint Projects in the Market of Platinum Group Metals. In future Russia and South Africa agreed to consider establishing a permanent bilateral organ aimed at stepping up joint efforts to stop theft and trafficking of precious metals.