The foreign ministers of South Africa and the Dominican Republic on Tuesday signed a declaration of intent in Pretoria to improve trade relations between the two countries.
Foreign Affairs Minister Carlos Morales Troncoso of the Dominican Republic said his country had decided to establish a diplomatic mission in Pretoria.
”South Africa has one of the most promising and sophisticated emerging markets in the world. We are looking into investing in the trade market.”
South African Minister of Foreign Affairs Nkosazana Dlamini-Zuma said trade had huge opportunities that existed for further bilateral cooperation and that more could be done to improve what had been achieved.
Exports from South Africa to the Dominican Republic amounted to R8 968 000 in 2005 while imports from Dominican Republic to South Africa came to R12 130 000.
Troncoso will meet with the minister of trade and industry to discuss trade issues and with the minister of minerals and energy to sign a memorandum of understanding.
He said he wanted to work with the energy distributor of South Africa to install prepaid meters in his country.
”The system is very successful in South Africa and it [the system] will help to cut losses of more than 50% in my country.”
Dlamini-Zuma said the agreement would benefit both countries.
”The next step is to sign a proper agreement that will allow us to do things.”
She said both countries will set up a framework that will allow both countries to work together in various industries.
Troncoso said he was hopeful the signed declaration would produce results because the Dominican Republic signed a diplomatic mission with India in May 2006, which had almost tripled the volume of business between the two countries.
Dlamini-Zuma also took the opportunity to congratulate Zambia for holding democratic elections.
”It is the will the of the people of Zambia and our department welcomes it [the decision] as it was a democratic election.”
The discussions between the two ministers come within the context of South Africa’s priority to enhance South-South cooperation for improved market access and advancement of the South through the African-Caribbean-Pacific-European Union. — Sapa