Ramaphosa Says SA-US Business Relationship Remains Robust

President Cyril Ramaphosa has painted an optimistic picture of South Africa’s economic partnership with the United States, following a series of high-level engagements during the United Nations General Assembly in New York last week.

In his weekly newsletter to South Africans, Ramaphosa highlighted meetings that included the US Chamber of Commerce-hosted Trade and Investment Dialogue, sessions with American companies, and discussions with members of Congress and government officials.

“US companies expressed confidence in South Africa’s economic reforms and are showing growing interest in expanding investment,” Ramaphosa said, noting that some firms already operate locally while others are considering entering the South African market.

Investment Opportunities Across Key Sectors

The president stressed that discussions focused on areas with significant potential for growth. Key sectors included agriculture, healthcare, advanced manufacturing, pharmaceuticals, technology, and critical minerals.

“South Africa is positioning itself as an attractive investment destination, particularly in sectors tied to the global digital transition and the shift towards net zero,” Ramaphosa said, underscoring the country’s strategic opportunities in a rapidly changing global economy.

Over 600 US companies are currently operating in South Africa, which remains the second-largest destination for US exports on the continent. Both countries see clear commercial potential in each other’s markets.

AGOA and Bilateral Trade Talks

Ramaphosa also welcomed support from the US Chamber of Commerce for renewing the African Growth and Opportunity Act (AGOA), which he described as “the cornerstone of US-Africa commerce.”

“Predictable, preferential access to the US market benefits not only South African exporters but also American businesses that rely on reliable imports,” he said.

The president confirmed that formal discussions are ongoing between South Africa’s Department of Trade, Industry and Competition and the US Trade Representative’s office to finalize a reciprocal trade agreement, further cementing the bilateral economic relationship.

South Africa-US Investment Forum

Highlighting the forward-looking nature of the partnership, Ramaphosa announced that the South Africa-United States Trade and Investment Forum will launch at the next South Africa Investment Conference in 2026. He described it as a “vital bridge” to strengthen commercial links and promote mutually beneficial deals between businesses in both countries.

“The engagement underscored that US and South African businesses remain deeply connected, committed to building partnerships one deal, one investment at a time,” Ramaphosa said, noting the enduring optimism among stakeholders despite political and global uncertainties.

Public and Business Reaction

South African business groups and industry leaders on social media welcomed the president’s update, praising the government’s efforts to attract investment and strengthen bilateral trade. Analysts note that renewed focus on AGOA and reciprocal trade could boost exports, create jobs, and attract more US firms to South Africa.

As the global economy faces turbulence, Ramaphosa’s message is clear: South Africa is actively positioning itself as a stable, investor-friendly partner, ensuring that the country’s economic ties with the United States continue to deepen.

{Source: The Citizen}

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