South Africa Pushes US to Renew Key Trade Deal

By Staff, Agencies

South African President Cyril Ramaphosa has urged the US to renew the African Growth and Opportunity Act [AGOA], warning that its expiry later this month would seriously damage South Africa’s economy and undermine decades of progress in American-African trade.

Speaking at the South Africa–US Trade and Investment Dialogue in New York, Ramaphosa called AGOA “the foundation of US–Africa trade,” warning its expiry would threaten key South African industries and vital export benefits.

“For this reason, I appeal for your support in advocating for its renewal. Predictable, preferential access to the US market is vital not only to South Africa but to American companies who depend on reliable imports,” said Ramaphosa.

He said South Africa values its relationship with Washington, but stressed that recent trade tensions must be resolved.

“We do not take this relationship for granted,” Ramaphosa said, emphasizing mutual benefits and warning that tariffs affect industries in both countries.

The United States remains one of South Africa’s largest trading partners outside Africa, and Ramaphosa highlighted the scale of American investment.

“The US is a top source of investment in South Africa,” Ramaphosa said, noting over 600 American companies support jobs across key sectors like energy, mining, and finance.

Ramaphosa also highlighted South African businesses in the US, calling them “ambassadors of our entrepreneurial spirit, innovation, and global competitiveness.”

Ramaphosa said the dialogue should focus on shared priorities, aiming “to sustain and expand trade flows” and ensure mutual benefits for workers and consumers.

Looking to the future, he positioned South Africa as a key entry point to Africa’s 1.4-billion-person market.

“Africa is rising,” Ramaphosa said, highlighting the African Continental Free Trade Area’s 1.4 billion-strong market and South Africa’s role as a gateway with the infrastructure and systems to help US companies expand across the continent.

The president outlined sectors ripe for collaboration, including green energy, agriculture, pharmaceuticals, and digital innovation.

“We aim to attract more US investment in renewable energy, digital infrastructure, advanced manufacturing, and green hydrogen,” Ramaphosa said, highlighting opportunities in pharmaceuticals and healthcare to boost global supply chains.

To boost cooperation, Ramaphosa announced a new South Africa–US Trade and Investment Forum, with its first session set for next year during the South Africa Investment Conference.

Closing his address, Ramaphosa said the partnership must be defined by shared values as much as trade figures.

“This evening, my message is simple: we aim to deepen partnerships in financial services, mining technology, and automotive manufacturing, positioning South Africa as a reliable hub and gateway to Africa,” Ramaphosa said.