Deputy Minister Pahad to hold Discussions with Venezuelan Counterpart

Pretoria - Deputy Foreign Minister Aziz Pahad will hold bilateral political and economic discussions with his Venezuelan counterpart Vice Foreign Minister Professor Reinaldo Bolivar at the Union Buildings on Thursday 23 November 2006.

Deputy Minister Pahad will hold discussions with his Venezuelan counterpart within the context of South Africa's commitment to promote South-South co-operation and support for the developmental agenda of the South.

Issues on the agenda of discussions between Deputy Minister Pahad and Vice Minister Bolivar are expected to include, among others:

• The status of bilateral political and economic relations between both countries;
• Developments within Latin America and the SADC regions; and

Other issues of mutual interest including South Africa¡¯s tenure as a Non-Permanent member of the United Nations Security Council.

While in South Africa Vice Minister Bolivar will also meet with representatives of South African Institute for International Affairs (SAIIA), visit the Kloof Mine and Living Gold, Apartheid Museum and Hector Peterson Memorial.

Vice Minister Bolivar is expected to depart South Africa on Sunday 26 November 2006.

Bilateral Economic Relations

In January 2006, Gold Fields purchased a Canadian-owned mining company, Bolivar Gold, which had operations in the Venezuelan province of Bolivar. A representative of Gold Fields, the Venezuelan Country Manager, is now permanently based in Caracas.

Other areas in which South African exporters have shown an interest in the Venezuelan market include: prefabricated housing, and pre-paid electricity meters. With regard to the latter, 300 South African meters have been installed in a Caracas township. The opportunity now exists for further expansion in this regard. The Venezuelan company African Terroir has, since 2003, been importing South African wine which is available in most large supermarkets.

South African exports to Venezuela consisted mainly of Ferro-vanadium and related products, followed by liqueurs. South African imports from Venezuela consists mainly of oil.

TRADE STATISTICS:

SA Rands in millions (DTI) March 2006

Issued by Ronnie Mamoepa on 082 990 4853

Department of Foreign Affairs
Private Bag X152
Pretoria
0001

21 November 2006