Africa: Nigeria, SA to Strengthen Economic Ties - Ramaphosa

President Cyril Ramaphosa hosted his Nigerian counterpart, President Muhammadu Buhari, for a State visit on Thursday October 3, 2019.

President Cyril Ramaphosa has announced plans to create stronger economic and social ties between South Africa and Nigeria, following a spate of violence against foreign nationals in South Africa.

On Thursday, Ramaphosa hosted Nigerian President Muhammadu Buhari on a state visit which aimed to strengthen economic and social ties between the two countries.

Ramaphosa announced to media as well as Nigerian and South African delegates that both presidents had agreed to take steps to increase trade volumes between the countries as well as increase small to medium sized Nigerian businesses in South Africa.

"Nigeria accounts for 64% of South Africa's total trade with the West African region and is one of our largest trading partners on the continent itself.

"We noted with appreciation the increasing presence of South African companies in Nigeria, and agreed on the need to promote greater investment by Nigerian companies in South Africa," Ramaphosa said.

"Our governments have committed themselves to creating an enabling environment for both countries [to do] business in both countries."

Incentives would be provided for Nigerian companies to operate in South Africa to make doing business here easier and open.

In the address, both presidents again condemned the attacks against foreign nationals in South Africa, saying they would create mechanisms to prevent this happening in future.

"Early warning mechanisms will be set up so that, once we see that there is restiveness in both our people's side, we will be able to inform one another and find active ways to ensure that we do not have a reoccurrence.

"At the same time, we will cooperate at a number of levels, including at a policing level [and] at an intelligence sharing... level," Ramaphosa said.

Buhari weighed in on this, saying: "For those Nigerians that are here or elsewhere... it is a question of competition at very rural levels... whether they feel it should belong exclusively to the indigenous people of that locality or is open to all people from all over the world."

He added that people should follow the laws of the country they were living in. "If you do anything outside the people's understanding and agreement, eventually they will not accept it," Buhari said.

Source: Fin24

More From: News24Wire

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