Home
FacebookTwitterSearchMenu
  • Subscribe
  • Subscribe
  • News
  • Features
  • Knowledge Library
  • Columns
  • Customs
  • Jobs
  • Directory
  • FX Rates
  • Categories
    • Categories
    • Africa
    • Air Freight
    • BEE
    • Border Beat
    • COVID-19
    • Customs
    • Domestic
    • Duty Calls
    • Economy
    • Employment
    • Energy/Fuel
    • Freight & Trading Weekly
    • Imports and Exports
    • Infrastructure
    • International
    • Logistics
    • Other
    • People
    • Road/Rail Freight
    • Sea Freight
    • Skills & Training
    • Social Development
    • Technology
    • Trade/Investment
    • Webinars
  • Contact us
    • Contact us
    • About Us
    • Advertise
    • Send us news
    • Editorial Guidelines
Africa
Economy

Lamola: SA and Nigeria must elevate trade relations

03 Dec 2024 - by Staff reporter
0 Comments

Share

  • Facebook
  • Twitter
  • Google+
  • LinkedIn
  • E-mail
  • Print

International Relations and Cooperation Minister, Ronald Lamola, has emphasised to his Nigerian counterpart the necessity for both nations to elevate investment and trade relations.

“One of the overriding imperatives of our bilateral relations is the need to increase our investment and trade relations to higher levels. The relatively large sizes of our economies logically dictate that our economic collaboration should be yielding much bigger results,” Lamola said on Monday. 

The Minister was speaking in Cape Town, where he co-chaired the Ministerial Meeting of the Bi-National Commission with the Nigerian Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu.

To enhance economic cooperation and build on established sectors, Lamola said identifying bankable projects, especially in infrastructure development, was a key priority that should be pursued together.

Lamola stressed the importance of expanding trade relations between South Africa and Nigeria, as well as utilising opportunities within the African Continental Free Trade Area. 

“Our bilateral trade needs to reflect the enormous potential that is abundant in our countries.”

Lamola said strengthening people-to-people relations was essential to foster understanding, friendship, and shared values and this approach would also stimulate tourism, creative industries, sports, and collaboration in education and science.

South Africa and Nigeria are marking 30 years of diplomatic relations established in February 1994.

The ministerial session focused on strengthening relations and evaluating progress in implementing decisions from previous meetings.

“As we deepen bilateral collaboration, our countries cannot avoid the historic responsibility bestowed on us to be responsive to the challenges in our regions, the continent, and the international sphere,” Lamola said.

Nigeria had consistently advocated for an international system focused on peace in global relations among nations, said Lamola. 

“Nigeria, like South Africa, puts a high premium on the promotion of dialogue and peace in resolving disputes among countries. 

“[Nigeria's] current and previous leadership of ECOWAS [Economic Community of West African States] illustrates this track record of highlighting the supremacy of diplomacy over confrontation.”

Lamola expressed concerns about the state of peace and security in parts of Africa and globally. 

“The world is becoming fragmented and fragile, challenging the foundations that are important for anchoring a peaceful world. 

“Multilateralism is under threat as the temptation to resort to force is becoming a feature of inter-state relations in certain regions. Our continent is also grappling with a few conflict and war situations in some regions.”

As leaders sought to strengthen global institutions to be responsive to the needs of all States, Lamola said reform of some institutions had become paramount. 

“It is important that progress is realised in the current engagements aimed at reforming the United Nations Security Council. This organ of the United Nations needs to be more inclusive.”

He also assured his counterpart that South Africa’s Group 20 (G20) Presidency, which the country assumed on Sunday, was committed to ensuring that African developmental priorities were highlighted. 

President Cyril Ramaphosa will co-chair the 11th Session of the BNC between South Africa and the President of Nigeria Bola Ahmed Tinubu on Tuesday. – SAnews.gov.za

 

Sign up to our mailing list and get daily news headlines and weekly features directly to your inbox free.
Subscribe to receive print copies of Freight News Features to your door.

Saudi Arabian operator evaluates Port of Durban investment

Logistics

The brownfield development opportunity in Maydon Wharf spans 145 hectares and features 15 berths.

08 May 2025
0 Comments

Preferred bidders for Port of RB’s South Dunes Precinct announced

Logistics

TNPA said it forms part of its masterplan for ports in KwaZulu-Natal.

08 May 2025
0 Comments

Shipyard turns to humanoids to sail ahead

Logistics

This move is seen as a significant step in the industry’s push towards automation.

08 May 2025
0 Comments

AD Ports group signs Suez Canal deal

Imports and Exports
Logistics

The company has committed $120 million for the initial development and feasibility studies.

08 May 2025
0 Comments

Drones strike Port Sudan

Imports and Exports
Logistics

The city’s port and airport precinct have been targeted in the attacks over the past four days.

08 May 2025
0 Comments

RFA Convention to spotlight freight solutions

Logistics
Road/Rail Freight

Transport sector leaders will focus on resolving burning issues facing the industry at the upcoming conference.

07 May 2025
0 Comments

Sea freight under fire from trade war

Sea Freight

The outlook for container shipping was even more uncertain now than it was at the onset of the Covid virus.

 

07 May 2025
0 Comments

Illicit trade hits South Africa’s state capture-eroded fiscus hard

Economy
07 May 2025
0 Comments

Danish line rolls out IoT platform

Sea Freight
Technology

Maersk has implemented a new digital connectivity platform aboard its fleet for cargo tracking.

07 May 2025
0 Comments

Vietnam US exports surge as ‘conduit cargo’ from China floods in

Imports and Exports

US trade officials have repeatedly warned Vietnam to crack down on transshipment practices.

07 May 2025
0 Comments

Gemini consistently more punctual – Sea-Intelligence

Sea Freight

The platform reports Gemini’s all arrivals (AA) rate for the first quarter of 2025 as 90.3% and 85.7% for trade.

07 May 2025
0 Comments

US holds fire on Red Sea rebels after Oman-brokered talks

Sea Freight

The Houthis reportedly informed the US administration that they “don’t want to fight anymore."

07 May 2025
0 Comments
  • More

FeatureClick to view

Namibia 23 May 2025

Border Beat

BMA steps in to help DG and FMCG cargo at Groblersbrug
21 May 2025
The N4 Maputo Corridor crossing – congestion, crime and potholes
12 May 2025
Fuel-crime curbing causes tanker build-up at Moz border
08 May 2025
More

Featured Jobs

Branch Manager (DBN)

Tiger Recruitment
Durban
22 May

General Manager

Switch Recruit
Centurion
22 May
More Jobs
  • © Now Media
  • Privacy Policy
  • Freight News RSS
  • About Us
  • Advertise
  • Send us news
  • Contact us