Friday, February 20, 2009

SA and Mexico sign Memorandum of Understanding

By Mikhaila Crowie
20 February 2009

South African Foreign Minister Dr Nkosazana Dlamini Zuma met with her Mexican counterpart Secretary of Foreign Affairs Patricia Espinosa yesterday to sign a Memorandum of Understanding.

This understanding is to establish a Bi-National Commission and an Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income.

The meeting took place at Groote Schuur House and Dlamini Zuma said the discussion went quite well.

“First of all we were very happy to hear from our colleague that Mexico has taken a very conscious decision to co-operate and to work closely with African countries and of course South Africa has committed itself to work with Mexico and assist wherever we can in terms of Mexico achieving the objective of working closely with African countries.”

Espinosa said the signing of this agreement would strengthen the relationship between South Africa and Mexico.

“On the economic front we agreed to seek a better balance in our bilateral trade.”

Espinosa acknowledged that South Africa was one of Mexico’s most important trade partners.

“There is an area of opportunity to enhance our exchanges and in this regard both our governments will encourage reciprocal missions for business delegations.”

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