SA and Portugal sign co-operation agreement

ALAN PEAT CHAMBERS OF commerce and industry in SA and Portugal have signed up a programme of co-operation – valid for the next two years and automatically renewable thereafter. The Associacao Industrial Portuguesa/Camara de Comercio e Industria (AIP/CCI) and the Johannesburg-based Nafcoc/ JCCI have signed an agreement on developing the economic contacts between both countries. This focuses on trade, investment, training of economic staff, technology transfer, as well as the more comprehensive understanding of both economic systems. A primary concentration for the two chambers will be Angola and Mozambique – which, said JCCI, are strategic destinations for Portuguese and SA private investment. “New foreign direct investment (FDI) and technology are crucial for the development of Angola and Mozambique,” said the JCCI. To increase FDI and the conditions for success, the capacities for FDI support need to be centralised, according to the chamber. As an aid to this, the combined chambers intend to establish a network of selected companies and professionals - essentially from Portugal, SA, Angola and Mozambique – and accessible to small and medium companies. These contacts, said JCCI, will be made available through an Internet website – with the two chambers responsible for the development of the network. The network and its website are to be publicised in a conference using video conference capabilities in Lisbon and Johannesburg in the first week of November.