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*International Arbitration

Published on September 7th, 2017 | by Aspasia Archontaki

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South Africa and the EU: a mutually beneficial partnership

South Africa’s strategic partnership with the EU helps spur investment, innovation and job creation. Paolo Borzatta of think tank The European House-Ambrosetti and Stavros Nicolaou of pharmaceutical company Aspen discuss how both parties can strengthen economic relations and foster social innovation.

As the UK’s Brexit process fuels uncertainty around trade deals and relationships in Europe, both the UK and EU-27 are looking for more global opportunities for partnership and investment.

Well established partnerships are often ignored. South Africa and the EU have a longstanding cultural and historical relationship. South Africa is one of the EU’s 10 strategic partners. As with all the others – which include Brazil, China, India, Russia and the US – this bilateral relationship aims to foster international co-operation and deeper investment in order to provide mutual benefits. 

2017 marks the 10th anniversary of the Joint Action Plan, a forward-looking platform that facilitates wide-ranging co-operation between South Africa and the EU. The joint action plan sets out to enhance the strategic partnership between the two areas, covering areas of co-operation such as development, trade and innovation. It also encompasses encouragement to work together in fields such as climate change, social affairs, education and training, and the crackdown on international crime.

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