South Africa, Poland to strengthen cooperation

South Africa and Poland signed an Economic Cooperation Agreement to strengthen and further develop economic cooperation existing between the two countries, on the principle of reciprocity and mutually beneficial basis.

The Agreement states that the cooperation between the two countries will cover the sectors of Mining and mineral exploration, carbon enrichments and mining machinery, Oil and gas, Energy, Construction, Transport and infrastructure among others.

The Minister of Trade and Industry Dr Rob Davies said in order to ensure further development and promotion of bilateral trade and investment between the two countries, a structured interaction in the form of a Joint Economic Commission (JEC) within the ambit of the Agreement will be formed.

Addressing the Business Forum which took place in Midrand, the Deputy President of South Africa Mr Kgalema Motlanthe said he hoped that the JEC will provide Polish and South African business leaders with enabling conditions to improve trade between the two countries.

"As South Africa we believe maritime is one of the sectors that present a potential for greater economic co-operation. There are opportunities for joint investment, technical co-operation and institutional partnerships especially in shipping, ports and logistics, marine manufacturing and ship repairs," added Motlanthe. Motlanthe also said other opportunities for increased trade and investment exist in industries such as mining, machinery building, in metallurgy, science and technology and food processing.