New york: As part of ongoing efforts to create an enabling environment for investors, a South Africa-United States Trade and Investment Forum has been established to provide structure and continuity for investors. ‘Its inaugural session will take place next year in South Africa, alongside our South Africa Investment Conference. This forum will allow us to engage more systematically to address obstacles as they arise and to pursue opportunities in a coordinated way,’ President Cyril Ramaphosa said on Wednesday. He was addressing business leaders during the SA-USA Trade and Investment Dialogue, which took place at the United Nations General Assembly in New York.
According to South African Government News Agency, the United States is one of South Africa’s largest trading partners outside of Africa. ‘The US is a top source of foreign direct investment in South Africa, supporting hundreds of thousands of direct and indirect jobs in our economy. More than 600 US companies are already invested and operating successfully in South Africa,’ the President said. They are invested in areas as diverse as aerospace, mining and energy, consumer goods, and finance.
‘These investments have built industries, created jobs, and anchored long-term partnerships that have benefited both our peoples. South Africa is equally proud that some of our own companies have established a footprint in the US, from chemicals and financial services to mining, hospitality, and food products. These firms are ambassadors of our entrepreneurial spirit, our innovation, and our global competitiveness,’ President Ramaphosa said.
The President emphasised that South Africa values the trust that American companies place in South Africa. ‘. And we are committed to ensuring that this partnership continues to grow,’ he said.