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25 May 2012
   
 
 
Article by: Sapa
 
 
 

International Relations Minister Maite Nkoana-Mashabane has signed a trade deal with her Russian counterpart, her department said on Tuesday.

 

"The ministers reaffirmed their determination to intensify and deepen mutually beneficial bilateral social, economic and technical co-operation," it said in a statement.

 

Under the protocol, the two countries agreed to increase trade and investment while lowering "obstacles to bilateral economic co-operation".

 

Nkoana-Mashabane was convinced trade between the two would continue to increase, despite a recent slump.

 

"However, for the first time in many years there has been a drop in the volume of goods imported from South Africa.

 

"This happened primarily due to the decreased consumption in the Russian market of traditional agricultural produce from South Africa, as well as to challenges related to the products' storage and sale in the territory of the Russian Federation."

 

Present at the signing were Trade and Industry Minister Rob Davies and Transport Minister S'bu Ndebele.

 

Edited by: Sapa
 
 
 
 
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Minister of International Relations and Cooperation Maite Nkoana-Mashabane
 
Minister of International Relations and Cooperation Maite Nkoana-Mashabane
 
 
 
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