President Cyril Ramaphosa said on Monday that South Africa’s Department of Trade, Industry and Competition has been meeting with US trade representatives to finalise an agreement on the reciprocal trade agreement to benefit both countries.

Last week, Ramaphosa was in the US, where he addressed a Trade and Investment Dialogue between South African and US businesses on the sidelines of the UN General Assembly in New York, appealing for the US’s support in advocating for the African Growth and Opportunity Act’s (Agoa’s) renewal.

The current authorisation of Agoa is set to expire on Tuesday.

In his weekly letter to South Africans, Ramaphosa said engagements in the US show that businesses in both countries remain “deeply connected” and are committed to mutually beneficial long-term partnerships.

Relations between South Africa and Trump’s administration came to a head earlier this year, after the signing of the Expropriation Act, tensions which many believe were exacerbated by the Solidarity Movement and its members AfriForum and Solidarity lobbying the US.

In August, US President Donald Trump introduced tariffs on goods reaching the US from countries around the world, with South Africa being amongst the countries worst affected.

Ramaphosa said South Africa is encouraged that the US Chamber of Commerce supports the reauthorisation of Agoa, describing it as “the cornerstone of US-Africa commerce”.

“…predictable, preferential access to the US market isn’t just vital to South Africa’s own exports, but also to US companies that depend on reliable imports. We are also prioritising the African Continental Free Trade Area as a vital tool for strengthening US-South Africa trade and investment,” he said.

He noted that South Africa will continue advocating for the principle of reciprocity in investment and trade relations with the US.

“As the presence of US companies on South African soil continues to grow, we want to expand the number of South African companies operating in the US market, thereby creating more jobs for Americans,” he said.

As part of strengthening ties with the US, the South African government also met with members of the US Congress and Senate.

Later this year the US Chamber of Commerce will be sending a delegation, led by its CEO, to the B20 Summit, the official global business community dialogue forum of the G20.

Ramaphosa noted the presence of more than 600 US companies in South Africa, citing “durable and resilient” commercial ties between both countries.

“Our country is the second-largest African destination for US exports. Both South African and US businesses can see the clear opportunities and commercial gains of investing in the other’s respective markets,” he stated.

South Africa is positioning itself as an investment destination for critical minerals, with the digital transition and the global move towards net zero driving global demand, Ramaphosa pointed out.

“…we also had the opportunity to engage with US industry around investment opportunities in agriculture, pharmaceuticals, healthcare, advanced manufacturing, technology and other key sectors,” he said.

Last week, Ramaphosa welcomed the establishment of a South Africa-US Trade and Investment Forum, which will take place in South Africa next year, alongside the yearly South Africa Investment Conference.

The Forum aims to allow the countries to engage more systematically to address obstacles as they arise and to pursue coordinated opportunities.