Pretoria — South African President Cyril Ramaphosa on Thursday in Pretoria, South Africa, described the visit of his Angolan counterpart, João Lourenço, as an opportunity to boost bilateral cooperation, especially economic cooperation.
The South African statesman, who was speaking at the opening of official talks between the ministerial delegations of the two countries, said the dynamics of the planned cooperation will strengthen trade, investment, political and people-to-people relations between the two countries.
Cyril Ramaphosa recalled that South Africa and Angola share a fraternal bond that goes back to the support that the ruling MPLA gave to the liberation struggle of the South African people.
The South African President added that when Angola gained independence in 1975, South Africa was still suffering under the tyranny of the apartheid regime.
Cyril Ramaphosa said the decision by both governments to upgrade the structured bilateral mechanism from a Joint Cooperation Commission to a Binational Commission reflects the shared commitment to further deepen relations.
The South African President said his country should become the destination of choice for Angolan goods, products and services, and vice versa, and that about 20 South African companies are present in Angola and have made concerted efforts over the years to explore investment opportunities beyond the oil sector.
Cyril Ramaphosa said he would like to see more Angolan companies in South Africa as there are opportunities in infrastructure development, agriculture, construction, mining, financial services, telecommunications and manufacturing, among others.
The President emphasized that South Africa has prioritized the implementation of structural economic reforms to improve the business environment and investment climate and hopes to attract more Angolan investors.
Lobito Corridor
Cyril Ramaphosa said he was very encouraged by the development of the Lobito Trans-African Corridor in Angola and was ready to work with Angola and contribute within the possibilities of the existing projects.
According to him, both Angola and South Africa have significant mineral resources and therefore need to work together on strategies and policies that will ensure greater beneficiation of their minerals.
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The President said this will be particularly important as global demand for the essential minerals needed for the energy transition increases.
In his view, the African Continental Free Trade Agreement is a catalyst for inclusive economic growth that will take advantage of the system of preferential terms offered to signatories.
The President emphasized that as Angola and South Africa seek to accelerate the pace of industrialization, there is a need to build on each other's complementary skills in manufacturing and adding value to products.AFL/ART/AMP
