President urges trade rebalancing at Brasília business forum
President Cyril Ramaphosa has made a strong pitch for bolstered commercial and investment relations between South Africa and Brazil, arguing that the two nations are uniquely positioned to drive inclusive economic progress across the Global South. The call came during a business forum held in Brasília as part of the President's official State Visit to Brazil.
Ramaphosa, who was joined at the gathering by his Brazilian counterpart President Luiz Inácio Lula da Silva along with prominent business figures from both countries, stressed that the two economies share strikingly similar goals and grapple with comparable obstacles — chief among them persistent inequality and the pursuit of sustained growth.
Central to the President's message was the need to recalibrate the existing trade relationship by broadening and growing the range of South African goods exported to Brazil. He pointed to the visit as a pivotal moment for reimagining bilateral possibilities.
"This visit presents us with an opportunity to re-imagine a world of opportunities anchored by our shared values and vision. As Team South Africa, we are keen to rebalance our trade by growing and diversifying South African exports to Brazil," the President said on Monday.
Ramaphosa underscored the significance of the Preferential Trade Agreement between the Southern African Customs Union (SACU) and MERCOSUR (Southern Common Market), maintaining that widening the scope of products covered under the deal could open the door to substantially greater commercial exchange between the two countries.
Industrial cooperation and corporate footprint
The President singled out a number of industries ripe for joint development, including biofuels, defence, agro-processing, aerospace, energy, pharmaceuticals, advanced manufacturing and the automotive sector. He emphasised that partnerships in these fields should incorporate meaningful technology transfer and skills development to fuel industrial expansion on both sides.
Ramaphosa drew attention to the considerable corporate presence already linking the two economies. South African firms such as Sasol, MTN, Naspers, First National Bank, Aspen Holdings, Grindrod, Standard Bank and AngloGold Ashanti all maintain operations in Brazil. In return, Brazilian enterprises including Petrobras, Embraer and Marcopolo have set up in South Africa. He specifically welcomed the creation of an aviation training academy by Embraer at O.R. Tambo International Airport, designed to cultivate aerospace expertise and deepen the country's role in global aviation supply chains. Brazil's Marcopolo has also invested in automotive production in Gauteng, while industrial engineering firm WEG has built a manufacturing and distribution network serving the mining, energy and water sectors.
"The foundation for greater trade and investment is in place," he emphasised.
Looking ahead, Ramaphosa outlined a vision in which South Africa serves as Brazil's entry point into the broader African market through the African Continental Free Trade Area, while Brazil could similarly function as a gateway for South African businesses seeking to reach Latin America and the Caribbean. He highlighted the country's sophisticated financial infrastructure, major port facilities and skilled labour force as compelling reasons for Brazilian investors to deepen their commitment to South Africa.
South Africa's trade deficit with Brazil means diversifying exports could unlock new revenue streams for local manufacturers in sectors like agro-processing, automotive and pharmaceuticals, while creating jobs in communities hardest hit by unemployment. Expanded cooperation under the SACU-MERCOSUR agreement would give South African businesses preferential access to Latin American markets, strengthening the country's position as a continental trade hub. Much will depend on whether commitments made in Brasília translate into binding agreements and measurable investment flows.
