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South Africa, Equatorial Guinea strengthen trade – posted by

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Compiled by the Government Communication and Information System
Date: 21 Oct 2011
Title: SA, Equatorial Guinea strengthen trade

Pretoria – South Africa and Equatorial Guinea have agreed to work together to increase trade between the two countries.

President of Equatorial Guinea, Obiang Nguema Mbasogo, who is currently on a state visit to South Africa, met President Jacob Zuma to discuss a wide range of issues on Friday.

Zuma said discussions reviewed the state of bilateral cooperation on issues such as trade and industry, transport, minerals and energy, agriculture, public enterprises, communication, defence and security.

“We are satisfied with the state of cooperation in these areas and we have agreed to further deepen and intensify our cooperation so that we can maximise on the benefits and contribute to the development of our two countries.”

Both countries had also agreed to take appropriate measures to increase the volume of two-way trade and investments and foster closer economic ties.

Zuma welcomed Mbasogo’s invitation for South Africa to invest in the energy, mineral resources, transportation, agriculture and communication sectors in Equatorial Guinea.

“In this regard, South African state-owned enterprise as well as the private sector will engage in mutually beneficial partnerships and commercial ventures with their counterparts in Equatorial Guinea,” he added.

South Africa will offer its expertise to Equatorial Guinea, which is scheduled to host the 2012 Africa Cup of Nations together with Gabon.

Zuma said he and Mbasogo also discussed recent developments in Africa and in particular the death of Libyan leader Muammar Gaddafi.

“Consistent with the position of the African Union (AU), we wish to reiterate our view that a lasting and sustainable peaceful solution is possible only through an all-inclusive political process that will culminate in the holding of the first ever democratic elections in accordance with the roadmap as announced by the National Transitional Council in Libya,” he added.

Zuma also expressed hope that the latest events would lead to a cessation of hostilities and the restoration of peace.

Speaking as chairperson of the AU, Mbasogo said he and the continental body were concerned with further development of the issues and problems in Libya.

The AU was looking forward to a situation where it would play a major role in helping to create a government that will be totally inclusive and be able to follow the roadmap it issued with regards to Libya, he said.

Mbasogo also extended his gratitude to the whole of SA for the warm reception he received and sense of hospitality.

“It (South Africa) is already a developed nation and therefore our cooperation, collaboration and association with SA as a nation is to harness that development level they have already obtained,” he said.

Mbasogo was also optimistic that his visit to South Africa would enhance South-South cooperation and serve as a model for other such cooperation.

He added that representatives from the business sector formed part of his delegation to South Africa and he hoped that they would liaise with their counterparts here to discuss joint ventures. – BuaNews

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