President Cyril Ramaphosa has stated Pretoria is pursuing measures to scale back dependence on conventional markets amid doubtlessly excessive US tariffs
South Africa stays dedicated to advancing nationwide curiosity by strategic financial diplomacy and principled engagement on the worldwide stage amid tariff pressures from US and international commerce disruptions, President Cyril Ramaphosa has stated.
In his weekly letter to the nation on Monday, he highlighted the nation’s participation within the ninth Tokyo International Conference on African Development (TICAD) in Japan, describing it as a key platform for strengthening bilateral commerce and funding with Japanese companions.
“Japan is an important trading partner for South Africa in sectors such as construction, manufacturing, technology and agriculture,” Ramaphosa stated, highlighting discussions held on the TICAD9 enterprise discussion board on potential collaboration in clear and renewable vitality, automotive elements, and hydrogen manufacturing.
He singled out Isuzu Motors’ plans to develop its South African operations into a producing hub for the African market as a promising improvement.
Against a backdrop of worldwide commerce disruptions and rising tariffs, Ramaphosa emphasised that South Africa’s financial diplomacy is central to securing market entry, attracting funding, and selling sustainable improvement.
READ MORE: South Africa strengthens commerce ties with Japan
“At a time when our country faces potentially high tariffs imposed by the US administration, we are continuing to put in place measures that reduce our dependence on historical markets. South Africa continues to advocate for an international trade regime that is fair, equitable and rules-based. We are seeking a trade regime that does not render developing economies vulnerable to unilateral measures or protectionist pressures.”
Ramaphosa additionally highlighted the significance of diversifying commerce companions to scale back reliance on conventional markets, notably amid potential excessive tariffs from the United States. “Economic diplomacy is an important part of our country’s foreign policy, and has become all the more critical at a time of economic headwinds and global power shifts,” Ramaphosa stated.
He harassed that South Africa’s strategy to worldwide engagement is strategic, principled, and impartial: “We face neither East nor West, we face forward, South Africa will continue to engage with partners in both the Global North and Global South. Our approach is neither partisan nor beholden, but strategic”.
South Africa’s international coverage outlook just isn’t decided by strain exerted by outdoors forces, however by precept, he stated. Ramaphosa additionally reaffirmed South Africa’s dedication to multilateralism, respect for sovereignty, and the pursuit of a simply and equitable world order.
He cited the nation’s principled help for the Palestinian individuals of their quest for statehood and for the peoples of Western Sahara of their battle for self-determination, noting that these positions are guided by precept moderately than exterior strain.
Ramaphosa highlighted South Africa’s longstanding function as a continental and worldwide peacebuilder. The nation has contributed to peace processes in Lesotho, Burundi, South Sudan, Ethiopia’s Tigray area, and throughout the Great Lakes, in addition to deploying peacekeepers to a number of the continent’s most troubled areas, together with Burundi, Darfur, and the Democratic Republic of Congo.
He additionally famous South Africa’s efforts in mediating the Russia-Ukraine battle, together with becoming a member of a 2023 African leaders’ peace mission and persevering with engagements with each Russia and Ukraine. “This past weekend I had calls with several European leaders on the latest peace effort,” he stated.
“Our foreign policy outlook is not determined by pressure exerted by outside forces, but by principle,” Ramaphosa stated. “As we continue to engage constructively with the international community, we have been consistent that this should always be on the basis of mutual respect.”
Through these efforts, he stated South Africa seeks to advance each its nationwide pursuits and its constitutional values, reflecting the aspirations of the African Union’s Agenda 2063 and the United Nations Charter, whereas selling peace, social justice, and human rights.
First printed by IOL
(RT.com)