President Cyril Ramaphosa will lead the country's delegation during South Africa-European Union Trilateral Leaders' Meeting at Sandton Convention Centre,Johannesburg today.
The Presidency emphasised that the meeting forms of the long-standing Strategic Partnership between South Africa and the European Union, founded on shared values of democracy, multilateralism, human rights, equality, peace , and security.
The Presidency mentioned that the trilateral engagement will advance cooperation on a broad range of priorities, including trade and investment, macro-economic policy, climate change, energy security, research and innovation, digital transformation, peacebuilding , and global governance reform.
The Presidency revealed that European Union is one of the most largest trading partners with South Africa and more than 2 000 EU companies operate in the country.
"South Africa and the European Union continue to enjoy a robust economic partnership.
"The EU remains South Africa's largest trading partner and leading source of foreign direct investment, representing 41% of total FDI into South Africa, while South Africa is the EU's most significant trading partner in Sub-Saharan Africa.
More than 2 000 EU companies operate in South Africa, creating more than 500 000 direct and indirect jobs," said Vincent Magwenya, President spokesperson.
Magwenya highlighted that the Leaders' Meeting will therefore provide an important platform to deepen economic ties, expand market access, and explore new opportunities for mutually beneficial growth.
He further highlighted that the trilateral discussions will also reflect on global geopolitical developments, the reform of the international financial architecture, and the strengthening of Africa-EU cooperation in support of sustainable development, just energy transitions, and peace and stability on the continent.
"This includes advancing the beneficiation of critical raw materials, the launch of the Bilateral Energy Dialogue, and EU-supported initiatives through the Team Europe Global Gateway Investment Package covering energy, connectivity infrastructure, green logistics, transport, and electricity.
The discussions will include the South African pharmaceutical value chain," concluded Magwenya.