The Rt Hon MP shared the UK's growth
mission with key stakeholders and her G20 counterparts in South
Africa this week.
Over the past two days in Cape Town, the UK's chief finance
minister, Chancellor , spent time in and around the
G20 finance ministerial meetings emphasising that the UK's
relationship with South Africa is key to the delivery of the UK's
Growth Mission for the mutual benefit of both our countries.
The Chancellor emphasised the significance of South Africa to her
counterparts at the G20, highlighting that the UK is the largest
investor in the country, with UK companies having invested over
R500 billion.
Building on UK Foreign Secretary David Lammy's recent agreement
to develop a UK-South Africa Growth Partnership with Minister
Lamola, she reiterated that free trade is the best way to achieve
economic growth internationally and demonstrated how the UK is
meeting the ambition to drive job creation in our two economies.
Infrastructure was a major theme at the G20 meetings the
Chancellor attended, given the need to ensure that people can do
their jobs and get around with improved railways and roads to
facilitate economic growth. Which is why she said the UK is
helping to accelerate projects in South Africa, including
promoting the involvement of UK companies and sharing government
expertise.
The Chancellor announced the next stage of the UK programme
boosting urban economic development in South Africa, unlocking
opportunities through improved urban planning and infrastructure
in disadvantaged areas of the country's municipalities. The
intention is to strengthen UK cooperation with local governments
in South Africa, to build their financial and technical
capabilities.
A highlight of her time in SA was a visit was to the V&A
Waterfront, where the Chancellor witnessed the unveiling of the
design for the R25 billion expansion project, which has been
produced by UK architects Heatherwick Studio. She also welcomed
the news that British engineering firm Arup had won key contracts
to support South Africa's ambitions to boost green and
sustainable growth across the country, not only contributing to
the design of more resilient infrastructure but also working with
public and private sector clients to improve the energy
efficiency of buildings here in Cape Town and across South
Africa.
The Chancellor also attended a reception at the High
Commissioner's official residence for prominent South African
investors and businesses to further deepen the close economic
ties between the UK and South Africa.
