President Ramaphosa Urges Deeper Economic Ties at South Africa-Austria Business Forum

Johannesburg, 4 July 2025 — South African President Cyril Ramaphosa has called for strengthened economic collaboration between South Africa and Austria, emphasizing investment opportunities, innovation partnerships, and shared prosperity during his keynote address at the South Africa-Austria Business Forum held today.

Addressing a high-level audience that included Austrian President Alexander Van der Bellen, Vice President of the Austrian Federal Economic Chamber Martha Schultz, South Africa’s Minister of Small Business Development Stella Ndabeni, ambassadors, ministers, and business leaders, President Ramaphosa reaffirmed the importance of bilateral cooperation in advancing economic growth.

“South Africa and Austria enjoy strong bilateral trade and investment relations spanning energy, industrial technology, pharmaceuticals, and vocational training,” Ramaphosa said, noting that trade between the two countries has been steadily increasing.

Ramaphosa highlighted South Africa’s ongoing economic recovery and the government’s structural reforms aimed at attracting investment and boosting industrial development. He pointed to improvements in electricity supply, moderating inflation, and a robust infrastructure drive focusing on energy, transport, logistics, and digital transformation.

He invited Austrian businesses to invest in priority sectors such as:

Renewable energy and green hydrogen,

Agro-processing and component manufacturing,

Pharmaceuticals,

Critical minerals beneficiation, and

Electric vehicle and battery production.

South Africa’s large reserves of critical energy transition minerals, including the world’s largest reserves of platinum group metals, position the country as a key player in the global green energy revolution, Ramaphosa stated.

He also spoke of the recently signed Memorandum of Understanding on technical and vocational training, which aims to build a workforce equipped for both current economic demands and the future world of work. “We want to learn from Austria how to achieve the delicate balance between building the workforce of the future and growing the skills needed by the economy today,” Ramaphosa said.

On the continental front, Ramaphosa emphasized the African Continental Free Trade Area (AfCFTA) as a game-changer that will eliminate trade barriers and unlock new markets for investors. South Africa, he said, serves as an anchor for regional value chains, sourcing inputs from neighboring countries and exporting value-added products globally.

The President also underscored mutual tourism opportunities, particularly in eco, sports, and heritage tourism, and promoted South Africa’s eco-certified agricultural exports like wine and rooibos tea as ideal for the Austrian market.

Ramaphosa concluded his remarks with a firm commitment to continued collaboration:

“We will continue to support Austrian investors and partners in unlocking the great value in our country. It is clear from this Business Forum that there are abundant opportunities for even greater partnership, progress and shared prosperity.”

The forum marked a significant moment in South Africa’s pursuit of diversified international partnerships, especially in advancing sustainable development, innovation, and inclusive economic growth.