On Friday, 6 August, the U.S. Consulate General in Cape Town and the Western Cape Government marked the first six months of the Trade and Investment Promotion Partnership, launched in February 2021. The partnership deepens bilateral cooperation and coordination to promote and increase bilateral trade and investment through various engagements, events, and high-level interactions. It reflects the United States’ role as the top foreign direct investor in the Western Cape and supports two-way annual trade valued at approximately 16 billion Rand.
During the first six months of the partnership, U.S. companies announced agreements with Biovac to manufacture COVID-19 vaccines in Cape Town. U.S. tech companies and investors have provided millions of dollars in funding to Cape Town tech companies, and U.S. film companies have shot productions in the province. Other U.S. companies continue to expand and grow their operations in the Western Cape.