South Africa is seeking a new partnership with the UK on investment, trade in goods and services, and climate change, according to President Cyril Ramaphosa.
Ramaphosa said the country is keen to increase the volume and diversify the composition of trade to sell more manufacturing products to UK markets.
“While a large part of South Africa’s exports is still in minerals, there has been a significant increase in manufacturing exports, using South African industrial capabilities to meet the needs of British businesses and consumers,” he said.
Ramaphosa, who wrapped up a state visit to the UK on Wednesday night, was speaking at the banquet hosted by the Lord Mayor of London, Alderman Nicholas Lyons.
The UK is the largest foreign investor in South Africa with bilateral trade between the two countries (imports and exports) sitting at £10.7-billion (R220-billion).
The president noted that South Africa is a large supplier of global business services, with call centres in big cities providing round-the-clock services to the customers of businesses in the UK, and added that South Africa is also looking to significantly expand tourism with the UK.
“South Africa receives more visitors from Britain than from any other country outside of southern Africa. Visitors are attracted by the beauty of our landscape and wildlife, our long and rugged coastline, our music and culture, and the energy of our urban areas,” Ramaphosa said.
“The relationship between the United Kingdom and South Africa has changed much over the course of our history. This visit proves the strength and endurance of the ties between us. As this state visit draws to a close, we are certain of a new era of partnership between the United Kingdom and South Africa.”
He added that his government wants to improve collaboration with the aim to unlock joint funding and investment in developing Africa’s medical supply hub, noting that the Covid-19 pandemic laid bare the continent’s vulnerability with respect to the supply of medicines, medical equipment and vaccines.
To read more political news and views, click here.
Follow @SundayWorldZA on Twitter and @sundayworldza on Instagram, or like our Facebook Page, Sunday World, by clicking here for the latest breaking news in South Africa. To Subscribe to Sunday World, click here.
