UK’s Chief Finance Minister Rachel Reeves emphasized mutual economic growth with South Africa during G20 meetings in Cape Town. The UK remains the largest investor in South Africa, with investments surpassing R500 billion. The discussions focused on infrastructure development and urban planning enhancements, alongside reinforcing UK-South Africa relations through collaborative projects.
The Rt Hon Rachel Reeves MP, the UK’s Chief Finance Minister, recently attended G20 finance ministerial meetings in Cape Town, South Africa. During her visit, she emphasized the importance of the UK-South Africa relationship for mutual growth. The UK, as the largest investor in South Africa, has seen investments exceeding R500 billion, and Reeves aims to further strengthen this economic partnership.
Among key topics discussed were infrastructure improvements to enhance economic growth, with an emphasis on railways and road systems. Reeves confirmed that the UK is keen to advance various projects in South Africa, encouraging the participation of UK companies and sharing governmental expertise to facilitate development in the region.
In particular, the Chancellor highlighted the next phase of a UK initiative aimed at enhancing urban economic development in South Africa. This initiative will focus on improving urban planning and infrastructure in underserved communities while fostering cooperation with local governments to enhance their financial and technical capacities.
A notable moment from her trip involved a visit to the V&A Waterfront, where she observed the unveiling of a significant expansion project designed by UK architects from Heatherwick Studio. Additionally, she applauded British engineering firm Arup for obtaining vital contracts that will help promote green initiatives and improve infrastructure resilience across South Africa.
Reeves also hosted a reception at the High Commissioner’s official residence, engaging with influential South African investors and businesses to solidify the economic collaboration between the UK and South Africa. Her visit underscored the UK’s commitment to supporting growth initiatives within the region.
In conclusion, Chancellor Rachel Reeves’ visit to South Africa during the G20 meetings highlighted the UK’s commitment to fostering mutual economic growth. With substantial investments and collaborative projects aimed at infrastructure and urban development, the relationship between the UK and South Africa is positioned for significant enhancement. The engagements reflect a mutual desire for sustainable economic improvement and stronger ties between the two nations.
Original Source: www.gov.uk
