International Trade Centre data shows exports by Agoa countries will rapidly decline by 2029 if the programme is not renewed.
Its plan proposes a ‘Secure Saldanha Prosperity Corridor’ focused on the Port of Saldanha Bay.
Tau reports that discussions in Washington revealed broad support for the programme.
The fact that negotiations are now centred on specific written proposals represents a step forward.
The ministers highlighted the importance of avoiding practices that fragment global markets or disrupt supply chains.
South Africa’s ports, shipping services and broader logistics system are critical links in sustaining global supply chains.
SA’s current integration is described as modest and heavily reliant on multilateral agreements.
Renewable energy projects, digital infrastructure and manufacturing highlighted as needing investment.
The deal highlights potential applications of advanced nuclear power in the maritime sector.
The initiative will focus on co-financing and preparing bankable projects in key sectors.
Addressing Brics leaders during a recent online summit, Ramaphosa said the world was experiencing “cosmic shifts” in trade.
