"We are looking to share ideas with coaching staff, in terms of strength and conditioning, player management, medical and coaching," said Jones, who was part of South Africa's World Cup winning coaching team last autumn.
"Then there is also the win-win situation of player exchange."
As well as seeing promising young players switch hemispheres to gain experience, the agreement could also lead to South African stars following Dan Carter in moving to Europe on short-term contracts.
The All Black fly-half will shortly be taking a sabbatical from his native New Zealand to play for French club Perpignan from December - a move that has been sanctioned by the NZRU as Carter will return home in June of next year.
"What we'd like to do, because of the special relationship we have with the Stormers and Bulls, is if we have a good player who needs some game time and the Stormers and Bulls are short in those positions, to loan those players to the South African provinces," Jones told Rugby365.
"Conversely, if there are some young players who aren't getting much game time and we need a player in that position they'll come to us on loan.
"We'll help develop them and send them back to the Stormers and Bulls a better player.
"The last situation is your very high profile player, who maybe wants a European experience, but rather than go the full hold and sign and cut their ties with their provinces - particularly in South Africa where the players have a very deep relationship with their provinces - are able to take a sabbatical of five or six months or a full season.
"They can come and play with Saracens, we develop that player even more, they enjoy a different culture and then go back to play for the Bulls and Stormers again."
Jones, who has already been in preliminary discussions with the Blue Bulls management and will be talking to Western Province officials this week, hopes to have the agreement finalised by the time Saracens play Viadana in Italy this Saturday.
