04:28 GMT +312 December 2018
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    South Africa, Russia Prepare Industrial Cooperation Memorandum

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    Russia and South Africa are working on a memorandum of understanding for industrial cooperation.

    MOSCOW (Sputnik), Daria Chernyshova — Russia and South Africa are working on a memorandum of understanding for industrial cooperation, South Africa’s deputy minister of economic development told Sputnik Tuesday.

    “We are developing a memorandum of understanding now and we have identified areas in which we are going to cooperate,” Madala Masuku said.

    Masuku suggested that South Africa has major experience in deep mining technologies and the area itself is crucial for sharing experience – “on one side, we can share technologies in terms of extraction and on the other hand, Russia can share technologies in terms of the process, so this is an area where we can work together.”

    The deputy minister outlined aerospace, automotive and pharmaceutical industries as ripe for development.

    On Tuesday, Moscow is hosting the first meeting of the BRICS industrial ministers and other officials.

    BRICS is an association of five major developing economies, including Brazil, Russia, India, China and South Africa.

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    cooperation, BRICS, Madala Masuku, South Africa, Russia
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