The Democratic Alliance (DA) says a new EU investment and strategic partnership with South Africa, announced on 13 March during the eighth EU-South Africa Summit in Cape Town, underscores the EU’s commitment to tackling climate change and supporting South Africa in its renewable-energy ambitions.

The €4.7-billion investment package announced by European Commission President Ursula von Leyden and European Council President António Costa strengthened Europe's commitment to strategic partnerships with South Africa.

The investment forms part of the European Commission's Global Gateway, one of the EU's contributions to narrowing the global investment gap worldwide. 

In June 2021 the Group of Seven leaders launched it as a values-driven, high-standard and transparent infrastructure partnership to meet global infrastructure development needs.

The investment is also in line with the Scaling up Renewables in Africa campaign launched at the G20 Summit in Rio, Brazil, last year by President Cyril Ramaphosa and Von der Leyen.

DA spokesperson on International Relations & Cooperation Emma Louise Powell noted the significance of what the European Commission dubbed Clean Trade and Investment Partnerships and a "new generation of trade deals", and that it was an important milestone that positioned South Africa as a leading partner to the EU in sustainable economic cooperation.

“This landmark deal will drive investment, advance the clean energy transition, enhance skills development, and support key strategic industries, fostering job creation and economic growth in our country,” Powell pointed out.

The DA also acknowledged the EU’s commitment to ensure that South Africa benefitted from responsible and sustainable resource development.

“This presents an opportunity to bolster our local industries, create employment, and enhance our competitiveness on the global stage.

“We also appreciate the EU’s focus on enhancing connectivity infrastructure and strengthening the local pharmaceutical industry, both of which are crucial to economic resilience and improved service delivery,” Powell said.

The DA said it would continue to support the Government of National Unity’s efforts to advance bilateral initiatives that drove investment, created jobs, and fostered international partnerships that benefitted all South Africans.

“We look forward to engaging further on the implementation of this partnership and ensuring that these investments are effectively utilised for the advancement of our nation. We thank the EU for their important and enduring friendship with our country and look forward to building on this for many years to come,” Powell said.