UK likely to be SA’s biggest foreign direct investor — even after Brexit
Created after the Brexit decision, the UK’s department for international trade sees SA as a key business partner
Last month marked a year to go until the UK leaves the EU. While we’ve been clear that we will remain close friends and partners of the EU in future, we also have a unique opportunity to re-invigorate our relationships with other trading partners around the world. The UK’s new department for international trade, created after the referendum, is leading the way. As we look to establish our own independent trade policy for the first time in more than 40 years, our business relationships with countries such as SA will be key to our mutual prosperity. After all, as the International Monetary Fund (IMF) predicts, 90% of global growth will be outside the EU in the coming decades, and the UK’s new trade policy should be about helping businesses from both our countries work together even more extensively. UK businesses are already recognising SA as a great place to do business. SA’s bilateral trade with the UK was worth £8.8bn in 2016 — a 9.2% increase on the previous year. The UK remains S...
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