TEHRAN- A South African delegation, comprised of 60 businessmen from mining, telecommunications, engineering, agro-processing, and transport sectors, met officials of Iran’s Chamber of Commerce, Industries, Mines, and Agriculture in Tehran.

The delegation, headed by South African Foreign Minister Maite Nkoana-Mashabane, also constituted 45 senior government officials, including Deputy Trade and Industry Minister Mzwandile Masina, and officials from the departments of trade and industry, energy, treasury, water, science and technology.

ICCIM Chairman Gholamhossein Shafe’i said Iran and South Africa have already signed 90 memorandums of understanding and held 12 joint economic committee meetings, the IRNA news agency reported on Monday.

“While there is good diplomatic relations between the two countries, bilateral economic ties are weak,” Shafe’i said.

Nkoana-Mashabane, for her part, said that trade between the two countries rose 50 percent in the last year, compared to its preceding year.

Trade between Iran and South Africa stood at $49.335 million in the Iranian calendar year 1392 (March 2013-March 2014), according to the Iran Customs Administration.

Sanctions have resulted in a big drop in trade with South African exports to Iran going from around $125 million in 2007 to around $21 million last year.

In a meeting with Iranian Foreign Minister Mohammad Javad Zarif in Tehran on Sunday, Nkoana-Mashabane said: “We have to do away with obstacles to our joint trade; we need dynamic business interaction between our countries.”

MA/