The ANC says the decision by the US to continue with plans to host the African Growth and Opportunity Act (Agoa) summit in Johannesburg shows that the country was a key player in the global economy.
ANC national spokesperson Mahlengi Bhengu-Motsiri said the Agoa summit in November comes just after South Africa hosted the BRICS meeting in Sandton.
The BRICS gathering drew more than 40 heads of state from Africa and various parts of the globe.
Bhengu-Motsiri said Agoa was a strategic and important trade deal that allows for reduced tariff duties for a range of products from Africa to the US market.
She said the Agoa summit will boost trade ties between the US and South Africa as well.
“The upcoming Agoa Forum in Johannesburg will attract foreign direct investment and increase job opportunities in South Africa. It is a significant event that will strengthen economic ties between the United States and Africa and contribute to the continent's development.
“The ANC will also endeavour to host and engage the leadership of the Democratic National Convention in a bilateral engagement to advance various political perspectives between parties that move from a similar ideological base,” said Bhengu-Motsiri.
The Agoa summit was facing threats of being taken away from South Africa after US Congress members wrote to national security adviser Jake Sullivan, Secretary of State Antony Blinken, and Trade Representative Katherine Tai, asking them to find another country to host it.
This was after US ambassador Reuben Brigety alleged that a Russian ship had loaded arms from the naval base in Cape Town.
The allegations were denied by government and President Cyril Ramaphosa set up a commission of inquiry to investigate the allegations.
Judge Phineas Mojapelo, who chaired the inquiry, found that no arms were sold to Russia.
The ANC said on Thursday that the Agoa summit will be an opportunity to attract more investments into South Africa.
Ramaphosa met with US business leaders in New York this week on the sidelines of the UN General Assembly, where he told them that South Africa was open for business.