A historic visit with strategic meaning

At the invitation of State President Luong Cuong,  President Matamela Cyril Ramaphosa of the Republic of South Africa is paying a State visit to Vietnam from October 23-24.

This marks the first visit to Vietnam by a South African head of state in nearly two decades, underscoring both countries’ determination to deepen their partnership in a rapidly changing global landscape.

The visit is widely viewed as a strategic milestone - a turning point to elevate the “Partnership for Cooperation and Development” between Vietnam and South Africa toward greater substance and efficiency.

“South Africa finds great inspiration in how Vietnam rebuilt itself after the war. There are many valuable lessons that South Africa can learn from Vietnam’s experience in governance, financial management, and economic reform,”  Mr. Vincent Magwenya, Spokesperson to President Cyril Ramaphosa, said.

Historical bonds of solidarity and mutual support

Vietnam and South Africa share a unique historical connection that dates back to their struggles for national independence and social justice. The Communist Party of Vietnam and the African National Congress (ANC) established ties of friendship and solidarity during the fight against colonialism and apartheid.

Since the establishment of diplomatic relations on December 22, 1993, the two countries have nurtured a relationship based on mutual trust, respect, and shared values of peace, independence, and cooperation for development.

South Africa - a leading economy in Africa

Located at the southernmost tip of the continent, South Africa stands as Africa’s most industrialized and diversified economy. It accounts for around 60% of global chromium trade, ranks first worldwide in gold exports, second in platinum production, and fourth in wine exports.

South Africa plays an important role in regional and global governance as the only African member of the G20 and an active participant in the BRICS. The country has long been an advocate for African integration through the African Continental Free Trade Area (AfCFTA) and currently holds the 2025 G20 Presidency, reinforcing its global leadership.

Expanding two-way trade and investment ties

Trade and investment ties between Vietnam and South Africa have continued to grow steadily in recent years. In 2024, bilateral trade value reached approximately $1.8 billion, making South Africa Vietnam’s largest trading partner in Africa. On the investment front, South Africa currently has 20 active projects in Vietnam with a total registered capital of $0.88 million, ranking 109th among 151 countries and territories investing in Vietnam. Meanwhile, Vietnam has 4 investment projects in South Africa worth $8.86 million, placing it 45th among Vietnam’s 84 overseas investment destinations. These figures reflect the increasing economic engagement between the two nations and the potential for further expansion in the years ahead.

South Africa is currently Vietnam’s top trade partner in Africa. Bilateral trade reached nearly $1.8 billion in 2024, driven by strong demand for electronics, footwear, textiles, and agricultural products from Vietnam, while South Africa exports minerals, metals, and raw materials to  Vietnam.

Both sides are exploring 50 potential export items to enhance market access and diversify trade flows. Investment cooperation is also expanding, focusing on renewable energy, mining, steel production, agricultural processing, fertilizers, and supporting industries.

Source: VnEconomy