Bermuda clinched its 28th tax information exchange agreement (TIEA) yesterday when Premier Paula Cox signed an agreement with South Africa.South Africa’s Finance Minister Pravin Gordhan signed the TIEA in South Africa and the document was then couriered to Bermuda for signature.“The Joint Declaration by our two Governments refers to the broadening of the political and economic relationship between South Africa and Bermuda,” Premier Cox said.“In the Joint Declaration, the Government of the Republic of South Africa welcomes Bermuda as a member of the community of nations committed to international cooperation and information exchange on tax matters, and affirms that Bermuda will be treated accordingly by the South African authorities.“Following the entry into force of this agreement, South Africa and Bermuda will continue to examine what further measures can be adopted to further enhance our political and economic relationship, including further clarification of elements of double taxation, discrimination and other undesired tax barriers, investment protection and mutual recognition of our recognised stock exchanges.“The CEO of the Bermuda Stock Exchange is scheduled to visit South Africa later this year to attend the World Federation of Exchanges Annual General Meeting in Johannesburg.“So there are real opportunities for Bermuda to benefit in a tangible sense from this new level of relationship with South Africa. South Africa is an economic powerhouse and the only country on the African continent that is a member of the G-20.”