Currently, South Africa is the United Kingdom's largest trading partner on the African continent, while the United Kingdom is among the top five export markets for South Africa, with key exports including precious metals, vehicles, and agricultural products.
According to data from the South African Revenue Service, the total bilateral trade between the two nations amounted to approximately 133 billion rand ($7.62 billion) last year.
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| South Africa's Minister of International Relations and Cooperation Ronald Lamola shakes hands with Britain's Foreign Secretary David Lammy in Cape Town, South Africa, November 5, 2024. REUTERS/Shelley Christians |
British Foreign Secretary David Lammy, alongside his South African counterpart Ronald Lamola, stated, "We have committed to a UK-South Africa growth plan aimed at fostering economic development and strengthening our trade and investment connections." While specific details of the plan were not disclosed, Lammy's office indicated it would include initiatives to create more agricultural jobs in rural South Africa, thereby increasing exports to the UK.
Prior to the meeting, Lamola expressed that the trade and investment relationship had faced stagnation due to the COVID-19 pandemic and other obstacles, emphasizing the need for a "reset."
"I am pleased that we have reaffirmed the significance and robustness of our bilateral trade and investment relationship," he remarked.
In terms of defense, both countries pledged to enhance their cooperation in counter-terrorism efforts and discussed their mutual objectives for a fair energy transition, according to Lammy.
This visit marks Lammy's first official trip to Africa as foreign secretary, following his visit to Nigeria on Monday, where he also sought to strengthen economic and security partnerships.