President Ramaphosa calls for concerted effort to tackle climate crisis
CNBC Africa takes a look at the US – South Africa Trade and Investment Executive Dialogue addressed by President Ramaphosa late yesterday. Speaking on the side-lines of the UN General assembly, he told delegates that, “Over 600 U.S. businesses are operating in South Africa and the SA-US partnership has led to a new Trade and Investment Forum which addresses the most actionable impact on growing commercial ties.
Tue, 19 Sep 2023 11:28:20 GMT
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AI Generated Summary
- President Ramaphosa highlights the impact of climate change on Africa and the need for global action.
- South Africa seeks economic prosperity through trade and investment partnerships.
- Key enablers for economic growth include the Africa Continental Free Trade Area and AGOA agreement.
President Cyril Ramaphosa of South Africa addressed the US-South Africa Trade and Investment Executive Dialogue during the UN General Assembly, emphasizing the need for concerted global efforts to combat the climate crisis. Ramaphosa highlighted the impact of climate change on the African continent, stating that Africa bears a significant burden with 17 of the world's 20 climate change hotspots located on the continent. The recent floods in South Africa were cited as examples of how climate change can devastate businesses, such as the operations of companies like Toyota. Despite these challenges, Ramaphosa expressed the ambitious nature of South Africa as a young democracy striving for economic prosperity through trade and investment. The President outlined key enablers for economic growth, including the Africa Continental Free Trade Area, the AGOA agreement with the United States, and economic partnership agreements with the European Union and the United Kingdom. Additionally, South Africa is expanding trade links with countries outside the continent, including the Middle East, ASEAN, Mekasor, and the BRICS group of countries. Ramaphosa emphasized the importance of these partnerships in driving trade and investment opportunities for South Africa. The President also highlighted the country's membership in the G20, which has recently admitted Africa as a member, positioning South Africa as a key player in global trade and investment. Despite the challenges faced internally, including the need for economic reforms, Ramaphosa expressed optimism in the collaborative efforts between the government and business sectors to drive growth and development in South Africa.
