SA-IRI Chambers of Commerce Sign MoU

On 29 April 2024 South Africa’s Ambassador to the Islamic Republic of Iran, Dr SF Moloi witnessed the signing of the Memorandum of Understanding (MoU) between the South African Chamber of Commerce and Industry (SUCCI) and the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), in Tehra, at the premises of the ICCIMA. The SACCI was represented by its President, Advocate Mtho Xulu, while the ICCIMA was represented by its President, Mr Samad Hassanzadeh.

The MoU seeks to facilitate exchanges and strengthen ties between the business communities from both South Africa and Iran, the Small and Medium Enterprises (SMEs) and the private sector. It was envisaged that a joint chamber of commerce or a joint business council will be the ultimate end-result of these exchanges.

 It is widely acknowledged, by both the public and the private sectors in both countries, that despite strong and good bilateral political   relations between the two countries, the trade and commercial component needs to be improved. Both sides acknowledged that the inclusion of the Islamic Republic of Iran from January 2024, as the new member of the BRICS Plus family of nations, presents and widens the scope of opportunities for more commercial relations for business communities in both countries.

The President of SACCI, Advocate Xulu, was part of the South African delegation which came to attend the Iran Expo 2024 which was held in Tehran from 27 April to 01 May 2024 and which was largely comprised of the private sector. Advocate Xulu also came in his capacity as the Chairperson of the BRICS Business Council.

Ambassador Moloi assured both chambers of commerce of the embassy’s support and cooperation in smoothing up the process of improving economic relations between South Africa and Iran. Economic Diplomacy, which seeks to advance commercial relations, is one of the emphatic components of South Africa’s foreign policy and international relations.

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