South Africa offers US gas purchase for customs exemptions Economy news

As part of his last visit to the White House, South African President presented Cyril Ramafuza An offer for his American counterpart Donald TrumpHe requires the purchase of large quantities of American natural gas in exchange for his country obtaining customs exemptions on a group of major products.

This week, the South African government announced its intention to import between 75 and 100 million cubic meters annually of liquefied natural gas from USIt is the largest global source of this type of energy.

The financial value of this deal is estimated at $ 12 billion over a decade, equivalent to about one billion dollars annually.

On the other hand, South Africa is calling for customs duties on its imports from the United States, including an annual share of 40,000 cars, 385 thousand tons of steel, and 132 thousand tons of aluminum.

This show came as part of a strategic commercial alliance presented at the meeting of President Ramafuza and President Trump on May 21.

Moreover, South Africa has confirmed its desire to cooperate with America to develop new technologies such as hydraulic cracking in order to increase natural gas production locally.

This desire reflects the ambition of South Africa to enhance its energy security and rely more on modern energy sources.

This initiative indicates an active movement by South Africa to enhance its trade relations with the United States, and to exploit energy and technology opportunities to enhance its national economy amid increasing global challenges in the energy market.