The forum brought together business leaders, trade organisations, and policymakers from both nations to discuss opportunities for economic collaboration and investment.  

Opening the forum, South Africa’s Department of Trade, Industry, and Competition highlighted the need to support small and medium enterprises (SMEs) in accessing the Angolan market.

Trade between the two countries has faced challenges, but efforts are underway to boost cooperation, especially in sectors like manufacturing and services.  

A key issue raised during discussions was the need for beneficiation. Angola, rich in oil and gas resources, primarily exports raw materials, prompting calls to establish local refineries and promote value-added exports.

The development of the Lobito Corridor—linking Angola’s Atlantic ports to landlocked countries like Zambia and the Democratic Republic of Congo—was emphasised as a vital infrastructure project. This corridor aims to facilitate regional trade by transporting minerals from the interior to international markets.  

The African Continental Free Trade Area (AfCFTA) agreement also featured prominently in discussions. The agreement, which eliminates many trade barriers between African nations, offers vast potential with a continental market of 1.4 billion people and a combined GDP of $3 trillion.

Delegates noted that the removal of tariffs and non-tariff barriers could foster greater intra-African trade and attract global investment.  

Speakers at the forum, including representatives from the Black Business Council and Business Unity South Africa (BUSA), acknowledged the hesitancy of some businesses to invest in Africa due to perceptions of instability. However, they stressed that the current environment, bolstered by initiatives like the AfCFTA, provides a unique opportunity for economic growth.  

Later in the day, the two presidents, joined by trade ministers, participated in bilateral meetings and breakout sessions to facilitate business deals and collaborations.

--ChannelAfrica--