President Cyril Ramaphosa has called for deeper trade ties, strengthened 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 underscores the shared commitment between the two nations to build a modern, dynamic and mutually beneficial economic relationship.
“This visit reflects the strength of our longstanding partnership and our shared commitment to building a modern, dynamic and mutually beneficial economic relationship,” he said.
Framing his address around trade expansion, democratic values and the importance of multilateral cooperation, the President highlighted the steady growth in economic ties between the two countries.
“In 2025, total trade between South Africa and Spain reached approximately 2.8 billion Euros. South Africa’s exports to Spain reached 1.3 billion Euros, a 10 percent increase over the previous year.
“This makes Spain our fastest-growing major trading partner within the European Union,” the President said.
He emphasised that the relationship between the two economies is complementary rather than competitive.
“Our countries do not compete. We complement each other, demonstrating how strategic partnerships can strengthen global value chains,” he said.
President Ramaphosa noted that more than 150 Spanish companies operate in South Africa, supporting over 20 000 jobs across sectors including renewable energy, infrastructure, technology and tourism.
He further pointed to Spain’s investment of over 2.1 billion Euros in South Africa’s just energy transition as a strong signal of confidence.
“It is a statement of confidence not merely 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 remains concentrated in a narrow range of exports.
“Even though our trade relationship is strong, it remains structurally imbalanced. It is concentrated in a narrow range of products,” the President said.
He said diversification is critical to building resilience, particularly as motor vehicles for the transport of goods account for nearly half of South Africa’s exports to Spain.
President Ramaphosa identified critical minerals, green industrialisation and advanced manufacturing as key areas for future cooperation, especially as the global economy transitions to cleaner energy.
“South Africa holds the world’s largest reserves of platinum group metals. These critical minerals sit at the heart of hydrogen fuel cell technology, clean energy systems and the future of electric mobility,” President Ramaphosa said.
He said Spain’s growing leadership in the hydrogen economy presents an opportunity for alignment.
“South Africa brings the resource base. Spain brings technological capability, investment and market access. Together, this creates the foundation for a new kind of partnership, a collaboration across the value chains of the future,” he said.
Call for fair global rules and inclusive multilateralism
Placing the discussion within a broader global context, the President stressed the importance of fair and inclusive rules in international trade and climate governance.
“As we expand trade, we must ensure that the rules governing global commerce are fair and support development,” President Ramaphosa said.
He cautioned that emerging regulatory measures, such as the European Union’s carbon border policies, should not disadvantage developing economies.
“But new regulatory frameworks, including the EU Carbon Border Adjustment Mechanism, must not become instruments that inadvertently punish developing economies for emissions they did not historically cause,” he said.
While reaffirming South Africa’s commitment to climate action, he called for stronger support mechanisms within global frameworks.
“We are not opposed to the principle of carbon accountability. What we ask is that climate measures be accompanied by the necessary climate finance, technology transfer and transitional arrangements that the Paris Agreement and successive COP commitments have promised,” the President said.
Investment, industrial cooperation and shared prosperity
The President used the platform to position South Africa as an attractive investment destination, highlighting a pipeline of 85 projects valued at over 62 billion Euros across 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 firms to partner with South Africa as long-term collaborators in building industries that support inclusive growth.
“We invite you to partner with us not only as investors, but as long-term industrial partners, as co-builders of industries that will serve our people and yours for generations,” President Ramaphosa said.
Concluding his address, President Ramaphosa underscored the broader significance of the partnership between the two nations.
“We have an opportunity to connect European technological strength with African growth. We have an opportunity to build supply chains that are resilient, sustainable and inclusive,” he said.
He added that such cooperation can drive shared prosperity across both regions.
“Most importantly, we have an opportunity to create prosperity that is genuinely shared in Madrid and in Johannesburg, in Seville and in Durban,” the President said.
The President arrived in Spain on Thursday for a Working Visit that runs until 18 April, where he is participating in the In Defence of Democracy Initiative and engaging with political and business leaders to reinforce bilateral relations between South Africa and Spain.
The President is also scheduled to have an audience 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 Sánchez at the Fira de Barcelona, before delivering remarks at the plenary session on Extremism and Inequality.
The President is accompanied by the Minister of International Relations and Cooperation, Ronald Lamola, and the Minister of Trade, Industry and Competition, Parks Tau. – SAnews.gov.za
