European Union and South Africa Forge Clean Deal Partnership in Cape Town
Key Ideas
- The European Union and South Africa are initiating negotiations for a Clean Deal partnership in trade and investment to drive economic growth and sustainability.
- South Africa's potential in the clean hydrogen value chain, with abundant clean energy sources and key raw materials, positions the country to become a global leader.
- The partnership aims to stimulate investment in clean energy, raw materials, and hydrogen, boosting local industries and facilitating trade between South Africa and Europe.
- Both parties prioritize creating mutual benefits, supporting local jobs, added value, and maintaining high environmental and labor standards for resilient global value chains.
The President of the European Commission, Ursula von der Leyen, announced the launch of negotiations for the first Clean Deal partnership for trade and investment between the European Union and South Africa in Cape Town. Von der Leyen highlighted South Africa's growing economy and ambition to enhance local production. She emphasized the country's potential to lead in the clean hydrogen value chain due to its clean energy resources and significant raw material reserves, including platinum group metals. European companies are eager to invest in South Africa but seek more incentives to do so. The partnership aims to attract investments in clean energy, raw materials, and hydrogen, supporting local industries and promoting trade of South African products to Europe. Both parties aim for mutual benefits, focusing on creating local jobs, added value, and upholding environmental and labor standards for sustainable global value chains. This collaboration signifies a step towards economic growth, sustainability, and partnership between the European Union and South Africa.