Ramaphosa says visit reflects shared ambition for modern, dynamic and mutually beneficial economic partnership between South Africa and Spain…reports Africa Daily Newsdesk
President Cyril Ramaphosa has called for deeper trade ties, stronger democratic partnerships and a more equitable global system as he addressed the Spain–South Africa Business Forum during a working visit to Spain.
Speaking to business leaders and officials on Friday, Ramaphosa said the visit reflected a shared commitment between South Africa and Spain to build a modern, dynamic and mutually beneficial economic relationship. He emphasised that the partnership between the two countries has continued to grow, underpinned by expanding trade and investment links.
According to the President, total trade between the two nations reached approximately 2.8 billion euros in 2025. South Africa’s exports to Spain accounted for 1.3 billion euros, marking a 10 per cent increase compared with the previous year. He described Spain as South Africa’s fastest growing major trading partner within the European Union.
Ramaphosa stressed that the economic relationship is complementary rather than competitive, arguing that both countries benefit from collaboration across sectors. He noted that more than 150 Spanish companies are operating in South Africa, supporting over 20,000 jobs in industries such as renewable energy, infrastructure, technology and tourism.
He also highlighted Spain’s investment of more than 2.1 billion euros in South Africa’s just energy transition, describing it as a strong vote of confidence in the country’s long term economic prospects and its shift towards cleaner energy.
Despite the progress, the President warned that trade between the two countries remains concentrated in a limited range of products. He pointed out that motor vehicles for the transport of goods account for nearly half of South Africa’s exports to Spain, leaving the relationship structurally imbalanced.
Ramaphosa said diversification would be critical to strengthening resilience and unlocking further growth. He identified critical minerals, green industrialisation and advanced manufacturing as key areas for future cooperation, particularly as the global economy accelerates its transition towards low carbon energy systems.
He noted that South Africa holds the world’s largest reserves of platinum group metals, which are essential for hydrogen fuel cell technology, clean energy systems and electric mobility. Spain’s growing role in the hydrogen economy, he said, creates an opportunity for alignment, combining South Africa’s resource base with Spanish technology, investment and market access.
Placing his remarks in a broader global context, Ramaphosa called for fairer international trade rules and more inclusive multilateral systems. He cautioned that new regulatory measures, including the European Union’s carbon border policies, should not disadvantage developing economies.
While reaffirming South Africa’s commitment to climate action, he said such measures must be accompanied by adequate climate finance, technology transfer and transitional support, in line with global agreements such as the Paris Agreement.
The President also used the forum to promote South Africa as an attractive destination for investment. He pointed to a pipeline of 85 projects valued at more than 62 billion euros across sectors including energy, infrastructure, digital connectivity and pharmaceuticals.
“Our message is clear, South Africa is open for business,” he said, encouraging Spanish companies to partner as long term collaborators in building industries that support inclusive growth.
Ramaphosa said the partnership offers an opportunity to connect European technological strength with African growth, creating resilient and sustainable supply chains. He added that closer cooperation could deliver shared prosperity across both regions.
The President arrived in Spain on Thursday for a working visit running until 18 April. During the trip, he is participating in the In Defence of Democracy Initiative and engaging with political and business leaders to strengthen bilateral ties.
He is also scheduled to meet King Felipe VI at the Zarzuela Royal Palace. On Saturday, he will travel to Barcelona for talks with Prime Minister Pedro Sánchez at the Fira de Barcelona, before addressing a plenary session on extremism and inequality.
Ramaphosa is accompanied by International Relations Minister Ronald Lamola and Trade, Industry and Competition Minister Parks Tau as part of efforts to deepen cooperation between South Africa and Spain.
