Edited by Eamonn Ryan
President Cyril Ramaphosa has stressed the importance of diversifying South Africa’s trade relationships and expanding exports to Southeast Asia, particularly in agriculture, as global economic uncertainty continues.
The President visited Indonesia, Vietnam and Malaysia late October to strengthen trade and investment ties with the region. “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,” Ramaphosa said in his weekly newsletter.
South Africa already has a strong agricultural footprint in the three countries, exporting a variety of products. “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 explained.
The emphasis on agricultural exports also highlights the role of South Africa’s temperature-controlled logistics and cold chain infrastructure, which ensures products like meat, fruit and other perishable goods reach Southeast Asian markets in optimal condition.
While South Africa continues to explore opportunities in other sectors, including manufacturing and technology, the agricultural sector remains a key focus for immediate trade growth.
During the visit, several companies expressed 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,” Ramaphosa said.
Beyond trade and investment, the President noted that South Africa and the three Southeast Asian nations share a common approach to international affairs.
“We are all firm advocates of multilateralism and international law, the reform of the United Nations and co-operation 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 explained.
Historical ties further strengthen the relationship between South Africa and the three nations, all of which supported the fight against apartheid. In Indonesia and Malaysia’s case, South Africa is home to descendants of peoples brought as forced labourers under Dutch colonial rule, now known as the Cape Malay community.
“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,” Ramaphosa concluded.
Source: SAnews.gov.za