S. Africa is committed to enhance economic diplomacy

(MENAFN) South Africa is maintaining its focus on advancing national interests through targeted economic diplomacy and principled international engagement, even as rising global tariffs and trade disruptions create challenges, President Cyril Ramaphosa has stated.

In his weekly address to the nation, he highlighted the country’s participation in the ninth Tokyo International Conference on African Development (TICAD) in Japan, calling it a crucial opportunity to strengthen trade and investment ties with Japanese partners.

”Japan is an important trading partner for South Africa in sectors such as construction, manufacturing, technology and agriculture,” Ramaphosa said, noting discussions at the TICAD9 business forum that explored collaboration in clean energy, renewable technologies, automotive components, and hydrogen production. He also highlighted Isuzu Motors’ plan to expand its operations in South Africa, turning the country into a manufacturing hub for the broader African market.

Amid global trade instability and potential tariff increases, Ramaphosa emphasized that economic diplomacy remains essential for securing market access, attracting investment, and promoting sustainable development.

"At a time when our country faces potentially high tariffs imposed by the US administration, we are continuing to put in place measures that reduce our dependence on historical markets. South Africa continues to advocate for an international trade regime that is fair, equitable and rules-based. We are seeking a trade regime that does not render developing economies vulnerable to unilateral measures or protectionist pressures."

Ramaphosa also stressed the importance of broadening trade partnerships to lessen reliance on traditional markets. ”Economic diplomacy is an important part of our country’s foreign policy, and has become all the more critical at a time of economic headwinds and global power shifts,” he added.

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