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S. Africa to enhance cooperation with Iran: deputy president

Xinhua, November 6, 2015 Adjust font size:

South African Deputy President Cyril Ramaphosa announced on Thursday that he will lead a high-level delegation to Iran with the aim of consolidating strategic bilateral political and economic relations with the Islamic republic.

During the visit, the South African delegation will explore opportunities for foreign direct investment, create trading opportunities for South African investors while identifying skills development and training opportunities for South Africans in various Iranian sectors, Ramaphosa said in Parliament.

He did not say whether his delegation would discuss the possibility of resuming oil imports from Iran after a suspension for more than three years, but it is widely expected that the issue would be high on the agenda.

Under pressure from Western countries, South Africa halted imports of Iranian oil as of June 2012 as a result of sanctions over Iran's nuclear program. Iran had been South Africa's largest supplier of crude oil with 380,000 barrels per day (bpd).

In September this year, Iran signed a preliminary document with South Africa to resume its oil exports.

During the official visit on November 7-9, the South African delegation will utilize the opportunity to implement mechanisms for the re-establishment of trade in agro-processed horticulture and aquaculture products and to exchange skills and technology within the agriculture and fisheries sectors, Ramaphosa said.

The delegation will also explore opportunities for the cooperation in the energy sector with a view of attracting investment into South African refinery and shipping capacity and for an exchange of technology and skills in the energy sector, he said.

In addition the delegation will also explore collaboration between tertiary institutions, secure cooperation on skills development, identify opportunities in aquaculture and agriculture technology exchanges, scholarships in the medical field and masters programmes.

Ramaphosa will also inaugurate the South Africa-Iran Business Council. During the 12th Joint Commission held in May this year, the two countries agreed to elevate and consolidate trade, investment and economic relations and concluded action plans in finance, trade, agriculture and energy sectors. Enditem