International Relations and Cooperation Minister, Ronald Lamola, has emphasised to his Nigerian counterpart the necessity for both nations to elevate investment and trade relations to a higher level.
“One of the overriding imperatives of our bilateral relations is the need to increase our investment and trade relations to higher levels.
“The relatively large sizes of our economies logically dictate that our economic collaboration should be yielding much bigger results,” Lamola said on Monday.
The Minister was speaking in Cape Town, where he co-chaired the Ministerial Meeting of the Bi-National Commission (BNC) with the Nigerian Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu.
To enhance economic cooperation and build on established sectors that both investors have in the markets, Lamola said identifying bankable projects, especially in infrastructure development, is a key priority they should pursue together.
Lamola stressed the importance of expanding trade relations between South Africa and Nigeria, as well as utilising opportunities within the African Continental Free Trade Area (AfCFTA).
“Our bilateral trade needs to reflect the enormous potential that is abundant in our countries,” he added.
Lamola said strengthening people-to-people relations is essential for fostering understanding, friendship, and shared values.
He is of the view that this approach also promotes tourism, creative industries, sporting events, and collaboration in education and science.
“This will also allow our citizens to appreciate the rich tapestry of diverse cultures and heritage that exists in our respective countries.”
South Africa and Nigeria are this year marking 30 years of diplomatic relations, established in February 1994.
This morning’s session focused on strengthening relations and reviewing and evaluating the progress made in implementing the decisions from previous meetings.
“As we deepen bilateral collaboration, our countries cannot avoid the historical responsibility bestowed on us to be responsive to the challenges in our regions, the continent, and the international sphere,” Lamola said.
Nigeria has consistently advocated for an international system focused on peace in global relations among nations, Lamola said.
“Nigeria, like South Africa, puts a high premium on the promotion of dialogue and peace in resolving disputes among countries.
“[Nigeria’s] current and previous leadership of ECOWAS [Economic Community of West African States] illustrates this track record of highlighting the supremacy of diplomacy over confrontation.”
Lamola expressed concerns about the state of peace and security in some parts of Africa and globally.
“The world is becoming fragmented and fragile, challenging the foundations that are important for anchoring a peaceful world.
“Multilateralism is under threat as the temptation to resort to force is becoming a feature of inter-state relations in certain regions. Our continent is also grappling with a few conflict and war situations in some regions.”
As leaders seek to strengthen global institutions to be responsive to the needs of all States, Lamola said reform of some institutions has become paramount.
“It is important that progress is realised in the current engagements aimed at reforming the United Nations Security Council. This organ of the United Nations needs to be more inclusive.”
He also assured his counterpart that South Africa’s Group 20 (G20) Presidency, which the country assumed on Sunday, is committed to ensuring that African developmental priorities are highlighted.
“Once again, Minister Odumegwu-Ojukwu, I welcome you and your delegation with open arms of friendship as we open this Ministerial segment.
“I look forward to the report of the officials and hearing your insights and perspectives on the matters we are about to deliberate upon.”
President Cyril Ramaphosa will co-chair the 11th Session of the BNC between South Africa and the President of Nigeria Bola Ahmed Tinubu on Tuesday.
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