Economic analysts has predicted Africa to be the next best investment destination and post Brexit, Britain is positioning to have a better advantage because of colonial ties ahead of other G7 nations.
The UK is one of South Africa’s largest trading partners, with our trade worth over £9 billion last year.
And we have agreed that as the UK prepares to leave the EU – we must think about how to grow that trade in the future.
So today, as we’ve just witnessed, we have signed a Joint Statement with South Africa, Mozambique, Botswana, Namibia, Lesotho and Eswatini to ensure the provisions of the region’s current trade deal with the EU continue after this agreement no longer applies to the United Kingdom.
This important step will provide the strong foundations on which we can build a closer trade and investment partnership in the future that brings even greater benefits for both sides.
The UK has long been the biggest investor in South Africa, and is the second biggest investor across Africa.
And as I said in my speech today, my ambition is for the UK to be the number one G7 investor in Africa by 2022.
As we discussed in London, the UK fully supports your drive, Mr President, to attract more investment to South Africa so as to create jobs and economic growth.
And I want to see British companies play a central role in helping you achieve your ambitions, helping create and sustain high quality jobs for the people of both our countries.
I’m sure this is something we will discuss further at our investment roundtable this afternoon with some of the British firms who are travelling with me this week.
Science and Innovation
The UK’s plan for jobs and growth is set out in our modern industrial strategy. That strategy has science, research and innovation at its heart and these themes are also a central part of our bilateral partnership.
Our world-class academics and researchers are collaborating at the cutting edge of scientific discovery to help solve shared problems, save lives, and shape a better world for our people.
We are partnering with you to train the next generation of South African scientists, and we will make more scholarships available for the brightest and best African students at world-class British universities – to support the continent’s talented future leaders and decision-makers as they develop their skills and careers.
Shared security
I look forward to discussing international issues with the President over lunch, in particular how we can work together to uphold the rules based international order as South Africa prepares to join the UN Security Council next year
So thank you again, Mr President, for the warm welcome you have given me today and for the productive discussions we’ve had.
We want to be South Africa’s partner as we deliver the better lives that our citizens aspire to and deserve. I look forward to continuing to work with you in the years ahead to deepen our friendship and to achieve our shared ambitions”.
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