By Akani Nkuna
President Cyril Ramaphosa said on Friday that Austrian President Alexander van der Bellen’s state visit to South Africa was a crucial moment for deepening trade and investment ties between the two nations.
South Africa currently stands as Austria’s largest economic and trade partner on the continent, accounting for nearly a third of Austria’s total exports to Africa.
According to the Austrian government, around one-third of the country’s total exports to Africa are destined for South Africa.
In 2024, Austrian imports from South Africa totalled approximately EUR 617 million, while exports of goods and services to the country reached EUR 661 million.
Bilateral trade volumes have grown steadily by 10–15% annually, driven largely by mechanical engineering products, vehicle components, and chemical goods.
In his address, Ramaphosa said there were more than 70 Austrian companies with subsidiaries or agencies in South Africa across a range of sectors.
He pointed out the vast potential for enhancing investment and trade collaboration, particularly in green economy initiatives, energy, manufacturing, infrastructure development, and tourism.
“Through the Bilateral Consultations we have maintained cordial relations rooted in mutual respect, shared values and a common commitment to multilateralism. We are also committed to deepening investment and trade between our two countries,” Ramaphosa said.
Ramaphosa noted that the visit would further explore ways to position South Africa as a compelling destination for expanded Austrian business investment.
“The momentum of South Africa’s structural reform process and our efforts to boost economic growth present unique opportunities for Austrian firms wishing to invest here,” he said.
During a joint media briefing, the two countries signed two Memoranda of Understanding — one on cooperation in consular affairs and another on technical vocational education and work-based training.
The agreements aim to support South Africa’s efforts to develop critical skills needed to grow the economy and tackle unemployment.
Van der Bellen, on the other hand, underscored the value of cultural and scientific collaboration, noting that these elements are just as vital as economic ties in fostering strong bilateral relations.
“Science and culture are as important as economic cooperation, and sometimes they can strengthen each other in bilateral relations,” said Van der Bellen.
He expressed appreciation for the growing cultural connections between the two nations, highlighting Austria’s first cultural forum in sub-Saharan Africa, hosted in South Africa two years ago.
“It emphasized the cordial and growing relationship we share,” he said.
Van der Bellen added that the visiting delegation reflects Austria’s commitment to broadening engagement beyond business, including academic and scientific collaboration.
“Our delegation does not only represent business, but also culture and science, with representatives from Austrian universities that enjoy strong relations with South African institutions,” he said.
He also encouraged closer cooperation in tourism, pointing to Austria’s economic success in the sector as a potential model for South Africa.
“Austria has thrived on tourism for decades. It has contributed to the development of many regions — in my home valley, existence would not be possible without tourism,” he said.
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