Cape Town – United States direct investment in South Africa is led by manufacturing, finance, insurance and wholesale trade, says the Department of International Relations and Co-operation, Dirco.
The Secretary of State of the United States, Antony John Blinken, arrived at OR Tambo Building for Monday’s South Africa-United States Strategic Dialogue, hosted by Minister Naledi Pandor.
Pandor said South Africa looks forward to participating in the US-Africa Leaders’ Summit to be hosted by US President Joe Biden in December.
“I also look forward, Secretary Blinken, to your announcement of the Africa Strategy and wish to thank you for choosing South Africa to make this important announcement”, Pandor said on Monday.
The US is South Africa’s third largest trading partner with more than 600 US companies operating within SA’s borders, the Department of International Relations and Co-operation said on Monday.
US foreign direct investment (FDI) in South Africa was valued at $7.8 billion (R116 billion) in 2019, a 6.8% increase from 2018.
US direct investment in South Africa is led by manufacturing, finance, insurance and wholesale trade. South Africa’s FDI in the US was valued at $4.1 billion in 2019 (R59 billion), up 1.2% from 2018.
“Terrific to meet South African Foreign Minister Naledi Pandor today in Pretoria to strengthen the enduring ties between our countries and advance shared priorities through the US-South Africa Strategic Dialogue,” US Secretary of State Antony John Blinken said on Monday.
Blinken arrived in South Africa on Sunday, and spent the day touring Official Yards and connecting with talented artists in Johannesburg.
“The arts can be a powerful diplomacy tool, and I applaud the dynamic work of this urban complex to create a space for dialogue and cross-cultural understanding.”
IOL
