South Africa recognises Russia as a country with market economy

The Republic of South Africa has agreed to recognise Russia as a country with market economy, and this decision will officially come into force on December 1st this year. Russian Deputy Prime Minister Valentina Matviyenko said this on Thursday, speaking about the results of the negotiations with the South African leadership in Pretoria.

Russia, in its turn, is ready to include South Africa in the list of developing countries which enjoy privileges in trade with Russia, said Valentina Matviyenko.

The Russian Deputy Prime Minister conducted negotiations with South African State President Thabo Mbeki and Executive Deputy President Jacob Zuma.

According to Valentina Matviyenko, it is planned to put into practice the achieved agreements within the next two months. They are expected to make it possible to considerably expand bilateral trade and, in particular, to pave the way for deliveries of Russian steel to the South African region.

Apart from the questions of bilateral relations, the sides also touched upon the problems concerning Iraq and Middle East settlement, as well as the implementation of the plan - The New Economic Partnership for African Development - and Russia's participation in it, and also the activity of the African Union.

Valentina Matviyenko arrived in South Africa on November 17th as the head of the Russian delegation to the second session of the mixed inter-governmental committee on trade and economic co-operation between the Russian Federation and the Republic of South Africa, which completed its work on Thursday. The Deputy Prime Minister plans to leave for Russia in the evening of November 22nd.