CAIRO: Egyptian and South African leaders met in Cairo 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 spokesman, Suleiman Awad.
South Africa is among the top producers of gold, and Egypt said last week its Sukkari gold mine might be among the world’s 10 largest with 14 million ounces in total reserves.
The two, whose countries are part of the 19-country Common Market for Eastern and Southern Africa, or COMESA, also discussed further merging of regional economies, Awad said.
A meeting would be held next year to strengthen cooperation between COMESA and SADC, the Southern African Development Community, the spokesman said.
"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 totaled $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 3.47 billion rand ($497 million) and Egyptian imports amounted to 2.3 billion rand in the same period.
