This emerged after bilateral consultations between International Relations and Cooperation Minister Maite Nkoana-Mashabane and her Australian counterpart Julie Bishop in Pretoria on Thursday.
The two identified mining and the blue economy as key areas that the two countries should tap into for the benefit of both economies.
Through cooperation in the Indian Ocean Rim Association (IORA), Minister Nkoana-Mashabane told a media briefing, the two countries will push the agenda of the ocean economy, as outlined in Operation Phakisa, and strive to achieve the targets of the National Development Plan.
“In IORA, we see more and more opportunities for us to work together. We have committed that we will work with (Australia) to put up a document that seeks to consolidate relations on how we can unleash the ocean economy through skills exchange and development,” said Minister Nkoana-Mashabane.