There was agreement on the need to create a more attractive environment for American companies to invest in South Africa. | Lisaleesolomon1
These are just some of the sentiments echoed by President Cyril Ramaphosa as he concluded his official working visit to the United States at the invitation of US President Joe Biden.The two leaders deliberated on a range of critical issues of national, regional, and global importance during their bilateral meeting, where trade, investment, global peace and stability, health, as well as climate change, and the just energy transition were discussed.
Speaking on trade and investment Ramaphosa said there was agreement on the need to create a more attractive environment for American companies to invest in South Africa, where an estimated 600 US companies are already doing business in a range of sectors.Next year South Africa will host the African Growth and Opportunity Act Forum which will map the next phase of Africa-US trade.
Ramaphosa welcomed the United States' further commitment to improve bilateral trade and investment volumes, which will create much-needed jobs and economic growth in the country.Concerns were raised by Ramaphosa regarding tariffs levied by the US on South African steel and aluminium products, which South Africa,"... views as unfair and punitive".
It's understood that the work on the investment plan for the Just Energy Transition Partnership between South Africa, the United States, United Kingdom, France, Germany, and the European Union is expected to be completed by the UN Climate Change Conference in November 2022 in Egypt.
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