Signing of Eight Cooperation Agreements Between Iran and South Africa

Iran and South Africa signed eight cooperation agreements in the fields of trade and industry. Hassan Rouhani has also announced that South Africa could become one of Iran's most important trade partners. According to IRNA's report on Sunday, April 25, these eight agreements were signed following the visit of Jacob Zuma, the President of South Africa, to Tehran. The signed agreements include cooperation in trade and industry, the establishment of a joint investment working group, and agricultural cooperation. The two countries have also set their agenda for cooperation in water resource management, cultural and artistic collaboration, and insurance cooperation. A memorandum of understanding regarding 'national information exchange related to money laundering' and collaboration between the Iranian Oil Industry Research Institute and PetroSA of South Africa are also among the signed documents. Hassan Rouhani stated in a joint meeting of high-ranking delegations from Iran and South Africa in Tehran that 'the current volume of trade between Iran and South Africa is not satisfactory, but there is a possibility for this country to become one of Iran's most important trade partners.' Rouhani also considered the activation of banking relations between the two countries after the lifting of international sanctions against Iran's nuclear program as 'an important step' towards accelerating the development of Tehran-Pretoria relations. The expansion of banking relations between Iran and South Africa is deemed important because, despite the lifting of sanctions, the relationships between European and Iranian banks have not yet returned to pre-sanction conditions. Despite Iran's requests to the United States and the European Union for cooperation to join the global financial system, the White House has stated that the JCPOA does not include Iran's access to the U.S. financial system. According to reports, Jacob Zuma also assessed the signing of agreements and cooperation documents as a means to strengthen friendships and relations between the two countries and peoples. Zuma added that 'South Africa is determined to elevate its relations with the Islamic Republic of Iran to a strategic level.' Jacob Zuma traveled to Iran at the head of a 180-member delegation of high-ranking political and economic officials. IRNA reported that prior to the meeting of the two presidents and the signing of the eight major agreements between Iran and South Africa, the two countries had already signed 80 other cooperation documents in various fields. 'Converting gas to oil products' is one of these contracts signed between the Iranian Oil Industry Research Institute and the South African National Oil Company. The formation of a 'joint agricultural committee' has also been announced as another agreement between the two countries, with the document signed by the agriculture ministers of Iran and South Africa.