Ramaphosa impressed by economic gains of Ivory Coast
ABIDJAN - While the Port of Durban may be the biggest port in Africa, the rapid growth of economic activity and the expansion of the Port of Abidjan impressed President Cyril Ramaphosa.
Ramaphosa and his ministers visited the area on Friday. The president was visibly impressed by the economic growth seen in Abidjan in the last decade.
He is convinced there are greater economic opportunities for South Africa in the west African country.
"Ivory Coast is a strategic trading partner for South Africa, and there is tremendous potential to further increase trade in value-added products between our two countries," Ramaphosa told a business forum, which included representatives from both countries on Friday.
Ramaphosa, in turn, gained
the praise of his counterpart, for bringing to Abidjan over 100 South African businesspeople, representing 50 companies, to discuss trade and to
sign deals.
"Given our respective capabilities, we have a lot to offer each other," Ramaphosa said.
Ivory Coast Prime Minister
Patrick Achi noted that his country had worked hard in the last decade to become an attractive investment destination.
Despite political instability, which ended in 2011, the country had doubled its GDP in the last decade.
Achi said the goal for 2030 was to become a middle income country on the continent. For this to happen, they are marketing Ivory Coast as an investment hub that offers trust and sustainability.
SA's Minister of Trade, Industry and Competition Ebrahim Patel said trade between the two countries in 2020 amounted to $161 million.
For Ramaphosa, access to the Ivorian market will pave the way for a single African market. "From a host of small, fragmented markets, we want to build one large, single African market.