Trade ties with South Africa enhanced

The Ceylon Chamber of Commerce signed a Memorandum of Understanding (MoU) with the African National Congress - Progressive Business Forum (ANC-PBF) at the Sri Lanka-South Africa Business Forum at the Taj Samudra recently.

The Sri Lanka-Africa and Middle East Business Council of the Ceylon Chamber of Commerce in association with the ANC-PBF organised this forum. It was followed by B2B meetings.

The two signatories of the MoU were Deputy Vice Chairman of the Ceylon Chamber of Commerce and also the President of the Sri Lanka-Africa and Middle East Business Council Samantha Ranatunga and PBF, South Africa, Renier Schoeman.

The MoU was signed between the two organisations to further increase co-operation among the industrialists, businessmen and entrepreneurs of the two organisations, a media release from the Chamber said.

Both institutions agreed that it is imperative to maximise dissemination of information that could lead to further increase in bilateral trade. It was agreed to promote joint ventures, provide technical expertise, introduce licensing possibilities and arrange visits of industrialists, businessmen and entrepreneurs in co-operation with Boards of Investment of both countries and the respective diplomatic entities, whenever possible.

A 32-member high-powered business delegation led by Deputy Minister of Economic Development of the Republic of South Africa Prof. Ms Hlengiwe Buhle Mkhize visited Sri Lanka recently to expand trade relations between the two countries.

The Sri Lanka-Africa and Middle East Business Council of the Ceylon Chamber of Commerce will be organising a reciprocal trade and investment promotion mission to South Africa from November 19-23 to coincide with the Sri Lanka-South Africa Partnership Program scheduled to be held in South Africa on November 19.