EU foreign policy chief Josep Borrell welcomed the active development of the bloc's economic relations with South Africa and their bilateral cooperation on Friday, recalling that the European Union is the "first trade partner and the first investor" in the country
MOSCOW (Pakistan Point News / Sputnik - 27th January, 2023) EU foreign policy chief Josep Borrell welcomed the active development of the bloc's economic relations with South Africa and their bilateral cooperation on Friday, recalling that the European Union is the "first trade partner and the first investor" in the country.
"Our trade and economic relations have been growing steadily over the years, notably thanks to the implementation of the Economic Partnership Agreement. You are our main trading partner in Africa; the volume of your exports to the European Union has been increasing; and the European Union companies and firms continue to represent a large part of your overall foreign direct investment. We are the first trade partner and the first investor in South Africa," Borrell said at the opening of the 15th South-Africa-European Union Ministerial Dialogue in Pretoria.
South Africa and the EU actively cooperate in the fields of transition to green energy, raw materials, renewable hydrogen, education, research, development, production of vaccines and medicines, as well as in the fight against money laundering and terrorism, the EU foreign policy chief added.
Borrell also expressed confidence that South Africa and the EU were "like-minded" on foreign policy issues as well.
"We are facing an unprecedented level of global instability with old challenges yet to be sufficiently addressed and (with) the new challenges creating more global and increasingly dangerous tensions that affect all of us. Our international system is being tested to the core and those of us that believe in the international rule of law and multilateralism must do much more to defend it. I am sure that, putting together our efforts, we will do it," Borrell said.
The EU's top diplomat added that the bloc had realized the "the absolute necessity of forging new initiatives and new alliances." In this context, he also said that the EU's relations with South Africa were evolving in the right direction.
During the current, 15th South-Africa-European Union Ministerial Dialogue, the parties will prepare an EU-South Africa summit which will consolidate common ideas to develop the partnership in the coming years, Borrell said.
