Economic resilience and adaptability are essential in an increasingly interconnected world. At the recent trade and investment outlook mini-conference hosted by Wesgro and Agri SA, discussions centered around investment, trade advocacy, economic diplomacy, and the evolving global market landscape. With the right strategies, South Africa can unlock new growth opportunities, ensure food security, and foster sustainable economic development.
Encouraging investment and the green economy
Wrenelle Stander, chief executive officer of Wesgro, emphasised the importance of fostering investment, particularly in the green economy. Sustainability is no longer a luxury but a necessity, as global markets and investors shift their focus toward environmentally responsible enterprises. South Africa must seize this momentum by promoting green initiatives and facilitating investments that drive long-term economic benefits while preserving natural resources.
Diversifying exports and strengthening trade advocacy
The importance of expanding market access beyond traditional partners cannot be overstated. Diversification is critical with Asia and ASEAN countries presenting significant opportunities for South African exports. Wesgro’s role in advocating for trade-friendly policies and forming strategic partnerships is key to ensuring South African products reach new markets.
The upcoming G20 summit presents an opportunity to create lasting advantages by influencing trade frameworks and fostering international cooperation. More substantial bilateral agreements – rather than reliance on SACU – could provide more flexibility and targeted benefits for South Africa.
Economic diplomacy and food security
Western Cape Minister of Agriculture, Dr Ivan Meyer, underscored the significance of economic diplomacy in securing food security and market access. Global risks, including misinformation and political uncertainties, necessitate a new narrative prioritising stability, investment, and innovation.
With the Western Cape committed to job creation, the 2025 Investment Conference will be a pivotal platform to showcase opportunities and attract investors. The principle that ‘humility drives profitability’ reminds us that collaboration and adaptability are crucial for economic success.
Global trade shifts and market opportunities
The shifting global trade landscape offers both challenges and opportunities. China’s recent halt of Brazilian beef imports and India’s emergence as a major shipping market illustrates how quickly trade dynamics can change. South African exporters must be proactive in identifying and capitalising on these shifts.
Dr Meyer is convinced that sub-national governments will increasingly drive economic growth, with provinces playing a more prominent role in shaping trade and investment strategies. Lowering the political temperature and leveraging crises as opportunities will be essential for sustainable economic progress as global tensions rise. He aptly stated, “Agriculture will outlive Trump” – long-term thinking and resilience will be key to enduring success.
Conclusion
The global economic environment is undergoing rapid transformation. South Africa must embrace this change with strategic foresight, leveraging investment, economic diplomacy, and trade diversification to secure its place in the new global order.
