President Cyril Ramaphosa has called for stronger economic cooperation and increased trade between South Africa and Brazil, describing the partnership between the two countries as key to advancing inclusive growth and development in the Global South.
Speaking at the Brazil–South Africa Business Forum in Brasília during his State Visit to Brazil, Ramaphosa said both countries share similar economic ambitions and face comparable challenges, including inequality and the need for sustained economic growth.
The President addressed the forum alongside President Luiz Inácio Lula da Silva and business leaders from both countries.
President Ramaphosa said the visit presents an opportunity to deepen economic ties and rebalance trade by increasing and diversifying South African exports to Brazil.
“This visit presents us with an opportunity to re-imagine a world of opportunities anchored by our shared values and vision. As Team South Africa, we are keen to rebalance our trade by growing and diversifying South African exports to Brazil,” the President said on Monday.
He emphasised the importance of improving market access through the Preferential Trade Agreement between the Southern African Customs Union (SACU) and MERCOSUR (Southern Common Market), noting that expanding the agreement’s product coverage could unlock greater trade opportunities.
READ | President Ramaphosa reaffirms strong SA–Brazil partnership during State Visit
President Ramaphosa identified several sectors with strong potential for industrial cooperation between the two countries. These include biofuels, defence, agro-processing, aerospace, energy, pharmaceuticals, advanced manufacturing and the automotive industry.
The President said collaboration in these areas should include technology transfer and skills development to support industrial growth in both economies.
President Ramaphosa also highlighted the presence of South African companies operating in Brazil, including Sasol, MTN, Naspers, First National Bank, Aspen Holdings, Grindrod, Standard Bank and AngloGold Ashanti.
At the same time, Brazilian companies such as Petrobras, Embraer and Marcopolo have established operations in South Africa.
He welcomed the establishment of an aviation training academy by Embraer at O. R. Tambo International Airport, which aims to develop aerospace skills and strengthen South Africa’s participation in global aviation value chains.
President Ramaphosa noted that Brazil’s Marcopolo has invested in automotive manufacturing in Gauteng, while industrial engineering company WEG has developed a manufacturing and distribution presence that supports South Africa’s mining, energy and water sectors.
“The foundation for greater trade and investment is in place,” he emphasised.
The President said South Africa aims to position itself as Brazil’s gateway into African markets through the African Continental Free Trade Area, while Brazil could serve as South Africa’s gateway to Latin America and the Caribbean.
He highlighted South Africa’s advanced financial system, major ports and skilled workforce as factors that make the country an attractive investment destination.
President Ramaphosa also encouraged Brazilian investors to participate in the South Africa Investment Conference, scheduled to take place in Johannesburg on 31 March 2026.
“The door to South Africa is open, and the time to invest and grow together is now.”
He added that stronger economic cooperation between the two countries would not only support job creation and economic growth, but would also demonstrate the ability of countries in the Global South to shape their own prosperity. – SAnews.gov.za
