President Cyril Ramaphosa has called for stronger economic cooperation and increased trade between South Africa and Brazil, describing the partnership between the countries as key to advancing inclusive growth and development in the Global South.
Speaking at the Brazil-South Africa Business Forum in Brasília during his State Visit, Ramaphosa said both countries shared similar economic ambitions and faced comparable challenges, including inequality and the need for sustained economic growth.
Ramaphosa addressed the forum alongside President Luiz Inácio Lula da Silva and business leaders from both countries.
He said the visit presented an opportunity to deepen economic ties and rebalance trade by increasing and diversifying South African exports to Brazil.
“This visit presents us with an opportunity to re-imagine a world of opportunities anchored by our shared values and vision. As Team South Africa, we are keen to rebalance our trade by growing and diversifying South African exports to Brazil,” Ramaphosa said on Monday.
He highlighted the importance of improving market access through the Preferential Trade Agreement between the Southern African Customs Union and MERCOSUR (Southern Common Market), noting that expanding the agreement’s product coverage could unlock greater trade opportunities.
Ramaphosa identified sectors with strong potential for industrial cooperation between the countries. These include biofuels, defence, agro-processing, aerospace, energy, pharmaceuticals, advanced manufacturing and the automotive industry.
He said collaboration in these areas should include technology transfer and skills development to support industrial growth in both economies.
Ramaphosa also highlighted the presence of South African companies operating in Brazil, including Sasol, MTN, Naspers, First National Bank, Aspen Holdings, Grindrod, Standard Bank and AngloGold Ashanti.
At the same time, Brazilian companies such as Petrobras, Embraer and Marcopolo have established operations in South Africa.
He welcomed the establishment of an aviation training academy by Embraer at OR Tambo International Airport, which aims to develop aerospace skills and strengthen South Africa’s participation in global aviation value chains.
Ramaphosa noted that Brazil’s Marcopolo had invested in automotive manufacturing in Gauteng, while industrial engineering company WEG had developed a manufacturing and distribution presence that supported South Africa’s mining, energy and water sectors.
“The foundation for greater trade and investment is in place.”
Ramaphosa said South Africa aimed to position itself as Brazil’s gateway into African markets through the African Continental Free Trade Area, while Brazil could serve as South Africa’s gateway to Latin America and the Caribbean.
He highlighted South Africa’s advanced financial system, ports and skilled workforce as factors that made it an attractive investment destination.
The President also encouraged Brazilian investors to participate in the South Africa Investment Conference, scheduled to take place in Johannesburg on March 31.
“The door to South Africa is open, and the time to invest and grow together is now,” he said. – SAnews.gov.za
