South Africa and Tunisia have negotiated and agreed to sign a Memorandum of Understanding (MoU) on Economic Cooperation, which will provide for the establishment of the Joint Trade and Investment Committee (JTIC).
This was disclosed at the South Africa-Tunisia Business Forum in Tunisia on Thursday, attended by over 100 business leaders from both countries.
South Africa’s Deputy Minister of Trade and Industry, Elizabeth Thabthe, who attended the forum, said: “We should also fast track the implementation process of this MoU as it is a very important framework which we will use as the basis for regular economic engagement between South Africa and Tunisia.
Tunisia’s Minister of Trade and Handicrafts Abdelwaheb Maater said his country was in the process of instituting a new era for future projects.
Tunisia was ranked 114th among South Africa’s trading partners last year.
For the period 2008 to 2012, exports to Tunisia totalled 486 million Rand (US$54 million).
The leading exports during 2008-2012 were mineral products, vehicles and chemicals.
Trade was in favour of South Africa, with a surplus of 23 million Rand (US$2.5 milion).
