President Cyril Ramaphosa has used his latest visit to the United States to reinforce South Africa’s commitment to strengthening its economic partnership with the world’s largest economy.
Speaking at the SA-USA Trade and Investment Dialogue in New York on Wednesday, Ramaphosa held high-level discussions with members of the US Chamber of Commerce and various dignitaries, seeking to boost American investment in South Africa.
‘Expand their presence’
The president underscored that the relationship between the two nations extends beyond traditional diplomacy, describing it as a partnership rooted in trade, innovation, and mutual economic benefit.
He affirmed his administration’s commitment to ensuring that South African businesses expand their presence in the US market.
Currently, more than 600 American companies operate in South Africa, spanning sectors such as aerospace, mining, energy, consumer goods, and financial services.
‘Concern’
While this demonstrates robust engagement, Cyril Ramaphosa acknowledged growing challenges.
He expressed concern over recent reciprocal tariffs on South African exports, warning that these measures have disrupted supply chains and created uncertainty for businesses on both sides of the Atlantic.
Central to his message was a strong appeal for the renewal of the African Growth and Opportunity Act (AGOA) – a key US trade policy that has governed trade with Africa for nearly 25 years.
Ramaphosa cautioned that failure to renew AGOA would negatively impact vital industries and disrupt the operations of US companies that rely on imports from the continent.
‘Deeper collaboration’
Looking ahead, the president called for deeper collaboration in emerging sectors, including green energy, digital innovation, and healthcare. He described these areas as “essential pillars” for inclusive and sustainable growth between the two nations.
Cyril Ramaphosa’s visit comes amid heightened global economic uncertainty, and his engagements in New York reflect a clear strategy to preserve and expand South Africa’s access to international markets – particularly its long-standing trade relationship with the United States.
