SA, Egypt leaders meet to expand ties

Egyptian and South African leaders met in Cairo on Tuesday for talks aimed at strengthening economic ties between the two African powerhouses and working towards a free trade deal for the continent.

South African President Jacob Zuma arrived with a retinue of ministers and businessmen, who held discussions with their Egyptian counterparts throughout the day.

President Hosni Mubarak, who visited South Africa in 2008, was especially eager to further cooperation in the oil, gas and mining sectors, said the Egyptian leader’s spokesperson, Suleiman Awad.

South Africa is among the top producers of gold, and Egypt said last week its Sukari gold mine might be among the world’s 10 largest with 14-million ounces in total reserves.

The officials from Egypt and South Africa also discussed regional cooperation during their talks on Tuesday, Awad said.

They agreed a meeting should be held next year to strengthen collaboration between the Common Market for Eastern and Southern Africa (Comesa), of which Egypt is a member, and Southern African Development Community, which includes South Africa.

“Egyptian exports enjoy benefits in Comesa countries, and if this cooperation is achieved, the export market allowed to Egypt and other countries would expand to the countries of the other groupings,” Awad said.

Egyptian exports to South Africa amounted to $19,8-million in the first three months of 2010, while South African imports totalled $43,41-million in the same period, according to the official MENA news agency.

South African says its total exports to Egypt between 2006 and 2010 were R3,47-billion and Egyptian imports amounted to R2,3-billion in the same period.—AFP