President Cyril Ramaphosa has called for deeper trade ties, stronger democratic partnerships and a more equitable multilateral system at the Spain-South Africa Business Forum during his working visit to the Kingdom of Spain.
Addressing delegates at the Business Forum on Friday, President Ramaphosa said the visit underlines the shared commitment between the two countries to build a modern, dynamic and mutually beneficial economic relationship.
“This visit reflects the strength of our long-term partnership and our shared commitment to building a modern, dynamic and mutually beneficial economic relationship,” he said.
Focusing his address on the importance of trade expansion, democratic values and multilateral cooperation, the President highlighted the steady growth in economic ties between the two countries.
“In 2025, total trade between South Africa and Spain reaches approximately 2.8 billion euros. South Africa's exports to Spain reach 1.3 billion euros, an increase of 10 percent compared to the previous year.
“This makes Spain our fastest-growing major trading partner within the EU,” the president said.
He emphasized that the relationship between the two economies is complementary rather than competitive.
He said, “Our countries do not compete. We complement each other, demonstrating how strategic partnerships can strengthen global value chains.”
President Ramaphosa said more than 150 Spanish companies operate in South Africa, supporting more than 20,000 jobs in sectors including renewable energy, infrastructure, technology and tourism.
He further described Spain's investment of more than 2.1 billion euros in South Africa's energy transition as a strong sign of confidence.
“This is a statement of confidence not only in our economy, but in our future,” he said.
Diversifying trade and strengthening value chains
While acknowledging the strength of bilateral trade, the President cautioned that the relationship is focused on a narrow range of exports.
The President said, “Even though our trade relationship is strong, it is structurally unbalanced. It is concentrated in a narrow range of products.”
He said diversification is important to build resilience, especially as motor vehicles for the transport of goods account for almost half of South Africa's exports to Spain.
President Ramaphosa identified critical minerals, green industrialization and advanced manufacturing as key areas of future cooperation, particularly as the global economy transitions to clean energy.
President Ramaphosa said, “South Africa has the world's largest reserves of platinum group metals. These vital minerals are central to the future of hydrogen fuel cell technology, clean energy systems and electric mobility.”
He said Spain's growing leadership in the hydrogen economy presents an opportunity for alignment.
“South Africa brings the resource base. Spain brings the technological capacity, investment and market access. Together, this creates a new kind of partnership, the foundation for collaboration across future value chains,” he said.
Call for fair global rules and inclusive multilateralism
Placing the discussion in the broader global context, the President stressed the importance of fair and inclusive rules in international trade and climate governance.
President Ramaphosa said, “As we expand trade, we must ensure that the rules governing global commerce are fair and support growth.”
He cautioned that emerging regulatory measures such as the EU's carbon cap policies should not harm developing economies.
“But new regulatory frameworks, including the EU carbon border adjustment mechanism, should not become tools that inadvertently penalize developing economies for emissions they have not historically made,” he said.
Reaffirming South Africa's commitment to climate action, he called for stronger support mechanisms within the global framework.
The President said, “We are not opposed to the principle of carbon accountability. What we want is that climate measures should be accompanied by the necessary climate finance, technology transfer and transitional arrangements that have been promised by the Paris Agreement and successive COP commitments.”
Investment, Industrial Cooperation and Shared Prosperity
The President used the forum to position South Africa as an attractive investment destination, highlighting a pipeline of 85 projects worth more than €62 billion in key sectors such as energy, infrastructure, digital connectivity and pharmaceuticals.
“Our message to every Spanish company in this room is that South Africa is open for business,” he said.
He encouraged Spanish companies to partner with South Africa as long-term partners in building industries that support inclusive growth.
“We invite you to partner with us not only as investors, but as long-term industrial partners, co-creators of industries that will serve us and your people for generations,” President Ramaphosa said.
Concluding his remarks, President Ramaphosa underlined the broader importance of the partnership between the two countries.
“We have an opportunity to combine European technological strength with African development. We have the opportunity to build resilient, sustainable and inclusive supply chains,” he said.
He said such cooperation can enhance shared prosperity in both the regions.
“The most important thing is that we have the opportunity to create prosperity that is truly shared in Madrid and Johannesburg, Seville and Durban,” the president said.
The President arrived in Spain on Thursday for a working visit lasting until April 18, where he is participating in the Defense of Democracy Initiative and engaging with political and business leaders to strengthen bilateral relations between South Africa and Spain.
The President is also scheduled to meet with King Felipe VI at the Zarzuela Royal Palace today.
On Saturday, he will be in Barcelona where he is scheduled to hold a bilateral meeting with President Pedro Sanchez at the Fira de Barcelona, before delivering remarks at the plenary session on extremism and inequality.
The President is also accompanied by the Minister of International Relations and Cooperation, Ronald Lamola, and the Minister of Trade, Industry and Competition, Parks Tau. – SAnews.gov.za