South African Trade and Industry Minister Dr Rob Davies and his Beninese counterpart Safiou Idrissou Affo have agreed to deepen bilateral economic relations between the two countries, whose relationship has historically been characterised by low levels of bilateral trade.

Davies said the agreement, which was concluded on the sidelines of the third India–Africa Ministers of Trade meeting in Johannesburg, on Tuesday, would also enable South African companies to access other markets in West Africa.

He added that, while bilateral trade between the two countries remained low, it had increased by 51% between 2011 and 2012. 

“South Africa’s exports increased by 37% and its imports by 13.7% over the same period. The increase was seen in the agriculture, agroprocessing, infrastructure development and energy sectors, while trade statistics depict a trade balance in favour of South Africa over the past five years,” he commented.

The agreement between South Africa and Benin was driven by a Joint Trade and Investment Committee, which was established to ensure the implementation of an August 2011 memorandum of understanding on economic and technical cooperation.