South Africa Keen To Increase Trade, Investment Ties With ASEAN - Ramaphosa

KUALA LUMPUR, Oct 25 (Bernama) -- ASEAN remains an important market for South Africa, as the country is keen to increase trade and investment with the region, according to South African President Matamela Cyril Ramaphosa.

He said South Africa is open to learning and sharing knowledge with ASEAN to improve key sectors such as technology and infrastructure.

“ASEAN is important to us… we have a lot to share with ASEAN and there's a lot of trade that happens between us, and we want that to increase and also want to share knowledge beyond that.

“ASEAN countries have developed in spectacular ways in a number of areas, such as technology, infrastructure, in modernising their economies, and we want to learn from that,” he said.

He was speaking at a panel session titled ‘Leader Fireside Chat’, moderated by chief executive officer and Board Member of Standard Chartered Bank Malaysia, Mak Joon Nien, during the ASEAN Business and Investment Summit (ABIS) 2025 held at the Malaysia International Trade and Exhibition Centre (MITEC), today. ABIS 2025 was held alongside the 47th ASEAN Summit and Related Summits.

Ramaphosa said South Africa aims to share its experiences as a developing country with ASEAN, especially in enhancing value addition to goods.

“ASEAN adds value to its various materials, such as manufacturing and technological transformation. In South Africa, we also have our strengths with minerals and food production that we have in our country.

“There's a lot that we can share together and we believe that we can learn more in terms of value addition to goods,” he said.

Furthermore, he noted that his official visit to Malaysia presents an opportunity to engage with a broad network of business leaders whom we hope to attract to South Africa.

“Being here (in Malaysia) for us means a great deal; with a number of businesses here, we are able to have an opportunity to interface with a large number of business people who we would like to attract to South Africa.

“Therefore, we are very pleased to have been invited to participate in the 47th ASEAN Summit at the invitation of the chair (Malaysia) and we hope that we will continue to participate,” he added.

On Oct 24, Ramaphosa arrived in Malaysia for a four-day official visit at the invitation of Prime Minister Datuk Seri Anwar Ibrahim and to attend the 47th ASEAN Summit and Related Summits as the Guest of the Chair.

He was also invited to attend the opening ceremony of the 47th ASEAN Summit and Related Summits on Sunday, and scheduled to deliver his remarks at the 20th East Asia Summit, and to attend the gala dinner hosted by Anwar and his wife, Datuk Seri Dr Wan Azizah Wan Ismail, on Monday.

In 2024, South Africa ranked as Malaysia’s largest trading partner in Africa, with bilateral trade amounting to RM7.82 billion (USD1.71 billion).

Malaysia’s exports to South Africa were valued at RM3.84 billion (US$840 million), while imports stood at RM3.98 billion (US$870 million). 

-- BERNAMA