The Association of Southeast Asian Nations ASEAN is a "unique bloc" of countries that could serve as a market within which South Africa can expand and diversify its export markets and deepen strategic relations.
This according to Deputy Minister of International Relations and Cooperation, Alvin Botes, who spoke to SAnews ahead of the ASEAN Summit and the East Asian Summit to be held in Kuala Lumpur, Malaysia, this weekend.
President Cyril Ramaphosa is expected to be a Guest of the Chair at the pivotal summit in a bid to strengthen South Africa's economic and strategic engagements with the dynamic economic bloc.
"The ASEAN, as an economic bloc, has approximately 650 million people it's quite significant and key. We're speaking about investment in emerging economies such as South Africa that finds expression sic.
"If we look at what we call the ASEAN tigers -- such as Singapore, Malaysia and the Socialist Republic of Vietnam -- it's all within the ASEAN group. It's important for diversification," Botes told SAnews.
The ASEAN Member States include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, which together boast a gross domestic product of some USD 3.8 trillion in 2023 and projected economic growth of some 4.2 in the face of global economic uncertainty.
According to the ASEAN website, two-way trade between South Africa and the bloc grew from some USD 10.56 billion in 2023 to some USD 11.21 billion in 2024, with tourism from South Africa to the region increasing steadily from 144 415 people in 2023 to 160 203 in 2024.
In 2023, South Africa was recognised as a Sectoral Dialogue Partner of ASEAN alongside countries including Brazil, Morocco and Switzerland.