President Ramaphosa hails successful three-nation visit to Southeast Asia

President Ramaphosa hails successful three-nation visit to Southeast Asia President Cyril Ramaphosa has emphasised the importance of diversifying South Africa’s trade relations as economic turbulence continues on a global scale. This as the President travelled to Southeast Asia last week, in a bid to deepen trade and relations with the nations of Indonesia, Vietnam and Malaysia. “In the midst of global economic uncertainty, it has become more important than ever for South Africa to diversify its trade and investment relations. “As we continue to expand trade with traditional partners, we see great value in strengthening links with other countries of the Global South,” the President said in the weekly newsletter. South Africa has a footprint in agricultural exports to the three countries. “During our visits, we discussed how to expand the range and the quantity of agricultural products we supply these countries, ranging from beef to soybeans to fruit. Among other things, we agreed to look at some of the regulatory barriers to market access,” he said. Now, more exports are being eyed for the mining sector. “Over time, each of these countries has expanded their advanced manufacturing capacity, with some taking the lead in semiconductors, batteries and electric vehicles. “South Africa, with its substantial reserves of critical minerals, is well placed to supply the products that these industries need. We are keen to develop partnerships with these countries to ensure that we add value to these minerals before exporting them. “This is part of our ambition to move away from being an exporter of raw material to producing finished goods,” President Ramaphosa explained. During the visit to Southeast Asia, many companies expressed their interest in investing in South Africa. “Some of these companies already have a presence in our country. All of them recognised the great potential of our economy, our well-developed infrastructure, our world-class financial sector, our independent judiciary and stable institutions. “A number of companies told us about their plans to build new manufacturing plants in South Africa to serve both our domestic market and markets in the Southern African region and on the African continent. They want to locate their operations in South Africa so that they can take advantage of the African Continental Free Trade Area,” he said. In solidarity The President noted that beyond the trade and investment talks that dominated the visit to the region, South Africa and the three nations share a “common approach to international matters”. “We are all firm advocates of multilateralism and international law, the reform of the United Nations and cooperation between the countries of the Global South. We therefore agreed to work together to promote peace and security, climate action and sustainable development. “Our common approach was evident also at the 47th Summit of the Association of Southeast Asian Nations (ASEAN), which we attended at the invitation of Malaysian Prime Minister Anwar Ibrahim. The theme for the ASEAN summit: ‘Inclusivity and Sustainability’, mirrors the theme for our G20 Presidency: ‘Solidarity, Equality, Sustainability’. “This underlines the alignment between our vision of the world and that of the countries of Southeast Asia,” he said. Historical ties also bind the three countries to South Africa, having supported the fight against apartheid. The Indonesian and Malaysian ties go back even further as South Africa is home to the descendants of peoples of the two nations who were brought to the country by the colonialist Dutch as forced labourers – a community of South Africans now known as the Cape Malay. “As we recognise these strong historical ties, these visits have been firmly focused on the future. There is enormous potential for greater trade and investment between South Africa and each of these countries. “Although we are separated by the Indian Ocean, South Africa and Southeast Asia are closer now than we have been before. We share a determination to build a common future of development and inclusive growth from which all our people benefit,” President Ramaphosa said. – SAnews.gov.za NeoB Mon, 11/03/2025 - 14:10 113 views

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