South Africa and Benin have, at the second South Africa - Benin Joint Trade and Investment Committee (JTIC) in Johannesburg this week, resolved to establish a joint chamber of commerce to strengthen and consolidate business relations between the two countries.

Incoming JTIC chairperson Sindiswa Mququ said the SA-Benin Chamber of Commerce would promote the economic viability of both countries and facilitate the growth of existing businesses, as well as the development of new ones.

“South Africa is determined to strengthen economic relations between our two countries and, as such, we have identified five development initiatives with Benin, which will be chamber’s focus in the current financial year,” said Mququ.

These projects included port refurbishment, rail refurbishment, construction of the Glo Djigbé International Airport, in southern Benin, agroprocessing and collaboration between South Africa’s Small Enterprise Development Agency and Benin’s l’Agence Nationale des Petites et Moyennes Entreprises.

The announcement came as total trade between the countries increased by 51% in 2012, with South African exports to Benin increasing by 37%, while imports from Benin to South Africa increased by 13.7%.

This improvement in trade over the period could be attributed to the fact that, between 2011 and 2012, South Africa’s exports of motor vehicles to Benin increased by 2496.87%, while the export of iron and steel increased by 1356.9%.

South African Ambassador to Benin, Gladstone Gwadiso, said that the chamber would further solidify the two countries’ already solid relations.

“Benin supported South Africa during the struggle against apartheid, and mutual cordial relationships between the two countries existed long before South Africa’s democracy. Businesspeople from the two countries need to take advantage of this relationship and work together to explore opportunities that exist in South Africa and Benin,” he commented.

He added that trade, investment and joint ventures in the private sector would enhance the economies of both countries.

Benin Trade Transactions Promotions Agency director-general and JTIC cochair Robert Akinde said that Beninians were eager to invest in and have cooperations with South Africa.

“There are investment opportunities in transport logistics and trade, textile, agroprocessing, oil produce, energy, tourism and the agricultural sectors, amongst others, and we urge you to come to Benin and invest,” he said.

Akinde said that Benin, which borders Nigeria to the West, was in need of cement and building materials and added that Benin would be willing to assist companies that were ready to import to the country.