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The Ministers committed, under the auspices of ITEC, to exploit new trade and investment opportunities and to identify and resolve potential obstacles to bilateral cooperation. This will facilitate economic competitiveness, develop skills, generate sustainable jobs and contribute towards an improvement in the livelihoods of the peoples of South Africa and Russia.

The Ministers reviewed the progress that has been made since the inter-sessional meeting of the co-chairpersons, held in Durban on 25 November 2008, and agreed on measures that would be taken to further strengthen the strategic bilateral partnership between South Africa and Russia.

In this regard, the Ministers noted with satisfaction that the annual ITEC sessions serve as an invaluable platform for enhancing bilateral trade, economic and technical cooperation between South Africa and Russia. The Ministers expressed the view that ITEC, which facilitates mutually beneficial programmes and projects that contribute towards the achievement of the national development priorities of South Africa and Russia, is a leading example of a dynamic North - South partnership.

The Ministers emphasized the importance of making further progress with respect to the signing and implementation of bilateral agreements, particularly ahead of the State Visit to Russia by the President of South Africa, Mr. Jacob Zuma, in 2010.

The Session agreed on the following:

1. Trade, Investments and Banking Cooperation.
2. Mineral Resources and Energy
3. Outer space
4. Transport
5. Water Resources and Forestry
6. Science, Technology and Education
7. Justice

The South Africa - Russian Federation Business Council discussed the trade relationship between the two countries and received reports on business projects from various sectors.

The Parties agreed:

• To frequent interaction through the Business Council in order to enhance knowledge of commercial opportunities and potential business opportunities;
• To prioritise capacity building and skills transfers, particularly in strategic and high technology areas.
• To facilitate good cooperation between the South African and Russian Business Council Chapters.

It has been agreed that the next Ninth ITEC Session will be held in Moscow in 2010. The terms of holding the Ninth ITEC Session will be communicated through diplomatic channels.

Further the Minister of International Relations and Cooperation from the Republic of South Africa invited her Russian counterpart and the entire delegation to form part of the 2010 Soccer World Cup to be held in South Africa.