WATCH LIVE: Ramaphosa hosts German Chancellor Olaf Scholz on official visit

Germany is a major investment source and development partner for South Africa.

President Cyril Ramaphosa on Tuesday is hosting German Chancellor Olaf Scholz on an official visit at the Union Buildings. Picture: @PresidencyZA/Twitter

President Cyril Ramaphosa is on Tuesday hosting German Chancellor Olaf Scholz on an official visit at the Union Buildings in Pretoria.

Scholz is visiting South Africa at the invitation of Ramaphosa and is accompanied by senior officials and business executives.

According to the Presidency, the official visit is important due to the strategic nature of South Africa’s relationship with Germany.

Germany is South Africa’s second-largest trading partner and in tourism, the third-largest single source of overseas arrivals. The country is also a major investment source and development partner for SA.

WATCH LIVE: Ramaphosa hosts German Chancellor on official visit, courtesy of SABC News

Exchange of views

Acting Presidency spokesperson Tyrone Seale said Ramaphosa and his German counterpart will exchange views on a number of issues of bilateral and international concern, including ways to enhance cooperation in areas such as energy and climate change, trade and investment, and responses to Covid-19 and vaccine demand.

Germany to dodge recession at start of year: central bank

“They will also reflect on developments on the African continent and internationally, including the conflict in Ukraine and its impact on the international economy and food and energy security.

“Germany also holds the G7 Presidency for 2022 and in this context the leaders will exchange views on Germany’s G7 priorities and how these could benefit emerging economies and the African continent in particular,” Seale said in a statement.

Trade and investment are major components of bilateral relations between SA and Germany.

South Africa’s total trade with Germany is R266 billion and its exports, a big percentage of which consists of value-added products, account for R155 billion a year.

Later on Tuesday, Ramaphosa will also join Scholz for the launch of a South African-German consortium that will advance technology research for the production of sustainable aviation fuels.

This engagement will be hosted at Sasol Place in Sandton.

Compiled by Thapelo Lekabe

NOW READ: KZN lining up the pieces against Ramaphosa ahead of ANC conference