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Ramaphosa vows to create attractive environment for US companies
Ramaphosa and biden deliberated on a range of critical issues of national, regional and global importance during their bilateral meeting.
Ramaphosa has concluded his official working visit to the US at the invitation of Joe Biden. Photo: The Presidency
President Cyril Ramaphosa and US President Joe Biden have agreed to create a more attractive environment for American companies to invest in South Africa.
Ramaphosa concluded his official working visit to the United States at the invitation of Biden on Saturday.
Trade and Investment
Ramaphosa said there was an 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.
A joint task force on trade and investment will be established to expand bilateral economic ties.
Next year, South Africa will host the African Growth and Opportunity Act (AGOA) 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 he said will create much needed jobs and economic growth in South Africa.
He also expressed concerns about tariffs levied by the US on South African steel and aluminum products, which South Africa views as unfair and punitive.
Russian Activities
During their discussions, Ramaphosa also raised concerns about the Countering Malign Russian Activities in Africa Bill, which is currently before the US Congress.
Ramaphosa said he explained that Africans should not be “punished” for their historic non-aligned position among major powers.
“We should not be told by anyone who we can associate with. I think it will harm Africa and marginalize the continent,” Ramaphosa told reporters.
Ramaphosa emphasised the need for an urgent end to the Russia-Ukraine conflict and the leadership role of the United Nations Secretary-General of António Guterres can provide in leading a peace process.
Just Energy Transition
Ramaphosa and Biden also affirmed their commitment to the Just Energy Transition and agreed that South Africa will require more funding to achieve an effective and just transition that leaves no one behind and that protects workers and communities that would be affected by the transition from fossil fuels to clean energy.
The work on the investment plan for the Just Energy Transition Partnership between South Africa and the United States, United Kingdom, France, Germany and the European Union is expected to be completed by the UN Climate Change Conference (COP 27) in November 2022 in Egypt.
Regional and Global Security
The duo’s discussion on global security and stability focused on the insurgent attacks in Mozambique.
Ramaphosa acknowledged the assistance currently being provided by the US in responding to the insurgent threat in Mozambique.
Ramaphosa called for more US support in the provision of skills and resources to counter the terrorist activities that are causing great suffering in Mozambique and threaten the stability of the SADC region.
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