17-09-2013, 10:36 AM
Pretoria - Relations between South Africa and Venezuela will come under discussion when International Relations and Cooperation Minister, Maite Nkoana-Mashabane, holds talks with her counterpart, Elias Jaua Milano, this week.
Nkoana-Mashabane is in Venezuela to strengthen bilateral relations and cooperation in the areas of energy, mining, agriculture, education, as well as arts and culture, according to her ministry.
Diplomatic relations between South Africa and Venezuela, which were established in 1993, have blossomed over the years.
The two countries have a Memorandum of Understanding regarding bilateral consultations and a Framework Agreement on Cooperation was signed in 2008 during the visit of the late President Hugo Chavez.
The Framework Agreement paved the way for cooperation in the areas of energy, mining, agriculture, social and cultural activities.
It was mutually agreed to establish a Joint Bilateral Commission (JBC) to monitor the implementation of the Cooperation Framework Agreement and to identify new areas of cooperation.
Three MOU were also signed by PetroSA and Petróleos de Venezuela (PDVSA), which granted PetroSA a block in order to explore Venezuela’s oil reserves.
South African exports to Venezuela consist mainly of Ferro-vanadium and related products, followed by liqueurs. South African imports from Venezuela consist mainly of oil.
Trade relations between South Africa and Venezuela have decreased over the years, with the balance of trade changing to favour South Africa.
Between June and July 2013, trade statistics showed imports standing at R42.5million, while exports stood at R84.6 million. – SAnews.gov.za
Nkoana-Mashabane is in Venezuela to strengthen bilateral relations and cooperation in the areas of energy, mining, agriculture, education, as well as arts and culture, according to her ministry.
Diplomatic relations between South Africa and Venezuela, which were established in 1993, have blossomed over the years.
The two countries have a Memorandum of Understanding regarding bilateral consultations and a Framework Agreement on Cooperation was signed in 2008 during the visit of the late President Hugo Chavez.
The Framework Agreement paved the way for cooperation in the areas of energy, mining, agriculture, social and cultural activities.
It was mutually agreed to establish a Joint Bilateral Commission (JBC) to monitor the implementation of the Cooperation Framework Agreement and to identify new areas of cooperation.
Three MOU were also signed by PetroSA and Petróleos de Venezuela (PDVSA), which granted PetroSA a block in order to explore Venezuela’s oil reserves.
South African exports to Venezuela consist mainly of Ferro-vanadium and related products, followed by liqueurs. South African imports from Venezuela consist mainly of oil.
Trade relations between South Africa and Venezuela have decreased over the years, with the balance of trade changing to favour South Africa.
Between June and July 2013, trade statistics showed imports standing at R42.5million, while exports stood at R84.6 million. – SAnews.gov.za