Minister highlights ‘bankable projects’ with Nigeria

International Relations & Co-operation Minister Ronald Lamola last week said that in order to galvanise economic co-operation and build upon the already established sectors that South Africa and Nigerian investors focus on in these markets, the identification of bankable projects, particularly in infrastructure development, is one of the key priorities the countries should jointly pursue. He was speaking during the Ministerial Session of the 11th session of the Bi-National Commission (BNC) between the two countries in Cape Town. Polity notes that he pointed out that the large sizes of both economies dictated that their economic collaboration should be yielding much bigger results. He said it was crucial for both countries to expand trade relations and use opportunities provided within the framework of the African Continental Free Trade Area Agreement. ‘Our bilateral trade needs to reflect the enormous potential that is abundant in our countries,’ he added. Legalbrief reports that President Cyril Ramaphosa will today co-chair the BNC with President Bola Ahmed Tinubu. In March 2016, the BNC was elevated to a presidential level. There has been a number of exchanges of high-level visits between the two countries. There are currently 34 Agreements and Memoranda of Understanding between the two countries which cover a wide range of fields including economic, technical, scientific, social, and tourism, amongst others.