Pretoria: South Africa and Chile have signed an agreement to collaborate in several strategic areas, including trade and industry promotion, decarbonisation, and critical minerals. This announcement was made by the Department of Trade, Industry and Competition (dtic). The agreement was formalized during the 8th meeting of the Joint Trade and Investment Commission (JTIC) in Pretoria.
According to South African Government News Agency, the agreement aims to strengthen bilateral trade and investment relations, particularly focusing on micro, small, and medium enterprises (MSMEs) and women-led enterprises. The JTIC meeting was co-led by Zuko Godlimpi, Deputy Minister of the dtic, and Claudia Sanhueza Riveros, Chilean Vice Minister of Trade.
Godlimpi highlighted the identification of concrete steps to enhance and diversify trade and investment between the two countries, including the exchange of export products. He emphasized the importance of decarbonisation and adding value to critical minerals, echoing President Cyril Ramaphosa’s vision of uplifting developing countries in global value chains.
The agreement also includes exploring cooperation in the beneficiation of critical minerals, with opportunities in fuel cell and battery manufacturing. Godlimpi noted the importance of understanding private sector opportunities and challenges in trade and investment.
Chilean companies operating in South Africa will gain access to markets in the European Union, European Free Trade Association, Mercosur, and the African continent through the Africa Continental Free Trade Area. Godlimpi pointed out South Africa’s potential as a gateway for Chilean companies entering Africa.
Cooperation in small and medium enterprises and women-led enterprises is seen as crucial for promoting inclusive trade. There will be initiatives for knowledge exchange, global value chain integration, start-up programmes, and export opportunities for incubators. Relevant ministries and agencies will establish contact by April 2025 to advance these goals.