posted by – www.equatorialguineaonline.com
The President of the Republic of South Africa, H.E Jacob Gedleyihlekisa Zuma, will host H.E Teodoro Obiang Nguema Mbasago, President of the Republic of Equatorial Guinea, who will undertake a two-day State Visit to South Africa scheduled to take place in Pretoria from 21 to 22 October 2011.
This visit is aimed at reciprocating the visit President Zuma paid to Equatorial Guinea in November 2009 and at consolidating the already existing cordial relations between the two countries.
The two Presidents will discuss and concretise cooperation in the key bilateral priority areas such as investment in energy, mineral resources, transport and agriculture, as well as improvement in trade and increasing the volume of trade investment between the two countries. Cooperation in the areas of defence and security will also be discussed.
Equatorial Guinea is the third most important oil producer in Africa and is one of the fastest growing economies in the world. Bilateral trade is currently growing and both Governments are eager to foster closer economic ties. Bilateral trade between South Africa and Equatorial Guinea is minimal. The trade balance is largely skewed in South Africa’s favour. South Africa exports machinery, perishables, furniture and equipment, whereas Equatorial Guinea exports machinery and household goods.