SA to increase trade to Vietnam, already at R31-billion

St Francis Chronicle, Edited – South African President Cyril Ramaphosa’s visit to Vietnam is aimed at increasing bilateral trade and investment ties between South Africa and Vietnam, which has already reached about R31-billion (1.79 billion USD).

Ramaphosa called for ‘a renewed push to strengthen trade and investment ties between South Africa and Vietnam’ during his visit to to Vietnam this week, saying deeper cooperation between the two countries is key to building resilient economies and advancing inclusive growth.
The President made the remarks during official talks with Vietnamese President, Lương Cường, at the Presidential Palace in Hanoi yesterday, where the two leaders led high level delegations in discussions aimed at taking the relationship between the two countries to new heights. President Ramaphosa is on a three-nation visit to the Southeast Asia region, which kicked off in Indonesia, followed by the State Visit to Vietnam. It will conclude with a working visit to Malaysia.
In an interview with Vietnam News on 21 October, prior to Ramaphosa’s visit to Vietnam, Vincent Magwenya, Ramaphosa’s spokesperson, outlined potential cooperation areas for the two sides, highlighting trade ties, which have steady increased over the years. Magwenya described President Ramaphosa’s visit as strategic and significant in promoting bilateral trade, contributing to fulfilling South Africa’s trade diversification strategy and expanding access into existing markets.
Considering recent global trade tensions, including the imposition of tariffs by major economies, President Ramaphosa underscored that it is increasingly important for countries like South Africa to strengthen South–South trade and economic cooperation.
“Enhancing bilateral trade ties and expanding market access between South Africa and Vietnam is both a strategic imperative and a practical response to shifting global dynamics.
“Our partnership can help build more resilient and diversified economies and unlock new opportunities for inclusive growth,” the President said.
The President congratulated the Vietnamese people on the country’s 80th anniversary of independence, describing it as “a remarkable milestone that demonstrates the resilience, unity and progress of the Vietnamese people.”
President Ramaphosa welcomed Vietnam’s proposal to elevate bilateral relations from a Comprehensive Partnership to a Strategic Partnership, a move he said would “unlock new opportunities for structured collaboration, enhance institutional engagement, and position the partnership to respond more effectively to global and regional challenges”.
He said the proposal also reflected the growing importance of Southeast Asia to South Africa and the African continent, and the importance of Africa for Vietnam’s growing global role.
The talks come as South Africa chairs the Group of 20 (G20), with President Ramaphosa highlighting Vietnam’s invitation to the upcoming G20 Leaders’ Summit in Johannesburg as an opportunity to deepen South–South cooperation and promote inclusive multilateralism,” Ramaphos says.
“Vietnam’s presence will enrich the dialogue and reinforce the importance of inclusive multilateralism and South–South cooperation in shaping a more equitable global order. As the Incoming Chair of the Southern African Development Community (SADC), South Africa is working to strengthen regional integration and economic development across the continent,” he said.
The President also encouraged Vietnamese businesses to take advantage of opportunities presented by the African Continental Free Trade Area, which offers access to a market of over 1.4 billion people.
“South Africa, as a gateway to the continent, is well positioned to serve as a strategic base for Vietnamese investment and trade expansion into Africa,” he said.
President Ramaphosa said South Africa sees Vietnam as a key partner in its export diversification strategy and is encouraged by the steady growth in trade and investment between the two countries.
“This visit forms part of a broader effort to strengthen South Africa’s engagement with Southeast Asia, a region of growing strategic importance,” he said.

During Ramaphosa’s prior visit to Indonesia , South Africa and Indonesia affirmed a shared commitment on the need to bolster trade between the two countries in order to drive mutual inclusive economic growth. This was related by Ramaphosa during a joint press briefing following bilateral talks with Indonesian President, Prabowo Subiantom during his State Visit to Indonesia.
Indonesia is South Africa’s third largest trading partner in the Southeast Asia region, with South African exports to that country standing at R10.5 billion and Indonesian imports amounting to R16.9 billion.
“During our discussions, we affirmed the importance of expanding and deepening bilateral relations on both political and economic fronts through existing bilateral mechanisms.
eed on the need to increase trade between our two countries as a catalyst for inclusive economic growth. We spoke of the importance of building more resilient and diversified economies for the benefit of the peoples of both countries, as we face similar geopolitical headwinds,” the President said. Source, edited. Vietnam News, SAnews