‘SA stands ready to support Canadian companies’ – Ramaphosa

President Cyril Ramaphosa said Africa is committed to work together to advance its own development and to meet the needs of its people.

The president was speaking during the Africa Accelerating 2022 Conference on Monday.

Ramaphosa said it was his privilege to address the conference on deepening trade and investment between Africa and Canada.

Economic growth

“When Prime Minister Trudeau and I met at the G7 Leaders’ Summit in Quebec in 2018 and again in Biarritz in France in 2019, we agreed that driving economic growth that works for all was a shared priority.”

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“The global fight against Covid-19 demonstrated both the need for and the value of solidarity, collaboration and cooperation,” Ramaphosa said.

Bilateral trade and agreement

Ramaphosa said with the pandemic in abeyance, the focus now is on advancing shared prosperity through bilateral trade and investment.

“The African Continental Free Trade Area is a critical part of efforts to raise Africa’s growth, and is one of the 15 flagship projects of the African Union’s Agenda 2063. There has been important progress towards the operationalisation of the African Continental Free Trade Area.

Ramaphosa added that Canada has supported all capital increases and contributed regularly to the African Development Bank replenishments.

“This history, together with the strong trade and investment ties between Africa and Canada, provides a firm platform to expand cooperation and accelerate growth. As Africa pursues economic integration, the opportunities for Canadian investors and companies will steadily expand.”

SA to support Canada

Ramaphosa said South Africa stands ready to support Canadian companies wishing to trade, invest and do business on the African continent.

“This is the time to work together, as we did when we confronted the deadly Covid pandemic, to realise the many opportunities that exist for mutual growth and development.

“I wish you well for your deliberations and look forward to the many new partnerships and ventures that we can expect to emerge from this conference,” Ramaphosa said.

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