SA can only benefit from either embracing true neutrality, where no trade partner is privileged over any other, or backing other countries with similar values, which are also able to provide us with a far greater trade surplus, argues Nicholas Woode-Smith.
President Cyril Ramaphosa and Russian president Vladimir Putin meeting on the sidelines of a G20 summit. Photo: GCIS
Alongside this more symbolic drop in value has been a rise in capital flight and a continual decline in foreign direct investment, as South Africa not only becomes a riskier investment due to incompetent domestic policy, but a dangerous trade partner due to irresponsible foreign policy. Critics of AGOA may argue that BRICS provides South Africa with far more trade potential. While the United States made up 8.8% of the total exports sent from South Africa in 2022, China made up 9.7%. India comes second in BRICS, being sent 4.2% of South Africa’s exports. Russia and Brazil did not feature on the top 25 of South Africa’s export partners.
But all this may go away if AGOA is not renewed, and the United States continues to see us as an enemy allying with tyrannies.How to fix it?
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