Pretoria: President Cyril Ramaphosa has reaffirmed South Africa’s commitment to strengthening bilateral trade and investment ties with Austria, highlighting a range of mutually beneficial opportunities across key economic sectors. Speaking at the South Africa-Austria Business Forum in Pretoria on Friday, President Ramaphosa underscored the importance of deepening economic collaboration between the two countries.
According to South African Government News Agency, the President noted that trade between the two countries has been steadily increasing, with several Austrian companies operating in South Africa through direct investments, distribution, sales offices, and service projects. He emphasized the potential for Austrian companies to explore investment opportunities in South Africa, particularly in sectors such as renewable energy generation, agro-processing, and component manufacturing. Additionally, he mentioned opportunities in critical minerals beneficiation, pharmaceuticals, technology, and innovation.
President Ramaphosa highlighted South Africa’s signs of economic recovery following recent challenges, noting improvements in electricity supply and a moderation in inflation. He detailed the country’s massive infrastructure drive, with key investments concentrated in energy, transport and logistics, water and sanitation, and digital infrastructure. The Infrastructure Fund has mobilized blended financing to support major projects across several sectors, with structural reforms being implemented to enhance the efficiency and competitiveness of the energy and logistics sectors.
As the global economy transitions towards greener alternatives, South Africa is positioning itself as a front-runner in the green and digital economy. The President spoke of a regulatory framework developed to harness the potential of the hydrogen economy and an industrial plan to support the growth of electric vehicle and battery production. This strategy includes incentives for manufacturers, investment in charging infrastructure, and localization of components, supported by an enabling policy environment including the expansion of special economic zones and active participation in the African Continental Free Trade Area (AfCFTA).
President Ramaphosa mentioned that the AfCFTA will remove trade barriers and unlock greater investment opportunities, particularly for Austrian businesses looking to enter new markets across the continent. He highlighted South Africa’s role as an anchor in regional value chains, with the manufacturing sector sourcing inputs from across the continent and exporting them as finished goods. South Africa’s rich reserves of critical minerals for the energy transition, especially platinum group metals, give it a competitive edge in producing sustainable energy technologies.
Beyond investment, South African businesses are keen to explore Austrian opportunities, particularly in organic food markets, renewable energy, and supply chains across mining, automotive, and other sectors. The President noted the high demand for South African agricultural products in the EU, including high-quality wines and specialty foods like rooibos.
On tourism, the President expressed a desire to see more Austrian tourists visiting South Africa and vice versa, with a focus on eco, sports, and heritage tourism. He welcomed the signing of a Memorandum of Understanding on technical and vocational training, emphasizing the importance of learning from Austria in building the workforce of the future.
Closing his address, President Ramaphosa affirmed the South African government’s continued commitment to private sector collaboration as a catalyst for economic growth and job creation. He expressed confidence that the engagements, discussions, and networking sessions from the forum would yield great benefits for both South African and Austrian companies, highlighting abundant opportunities for greater partnership, progress, and shared prosperity.