Cape Town – President Cyril Ramaphosa has declared that South Africa and China have entered a new “era of opportunity” following his recent State Visit to China.
The visit resulted in an agreement to elevate their relationship to an All-Round Strategic Cooperative Partnership, strengthening political, economic, and social ties.
Ramaphosa said that China is South Africa’s largest trading partner, though there is a trade imbalance – South Africa exports mostly minerals and agricultural products while importing manufactured goods from China.
“During the state visit, China and South Africa agreed to upgrade our relationship to an All-Round Strategic Cooperative Partnership in a New Era. This signifies the strengthening of the political, economic and social ties between the two countries.
“The strengthening of ties with major trading partners like China continues to yield benefits for the South African economy and people. It is clear that relations between South Africa and China have entered a new era of opportunity.
It is clear that relations between South Africa and China have entered a new era of opportunity. Our visit has strengthened trade and investment ties and cemented our shared commitment to grow our economy, create jobs and advance prosperity for the people of our two countries.… pic.twitter.com/bqC5WYjUrF
— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) September 9, 2024
“Our visit has strengthened trade and investment ties and cemented our shared commitment to grow our economy, create jobs and advance prosperity for the people of our two countries,” Ramaphosa said in his weekly newsletter on Monday.
During the visit, Chinese President Xi Jinping expressed a desire to increase imports of South African finished goods and support the development of South Africa’s manufacturing sector.
“During our discussion, Chinese President Xi Jinping expressed his support for the development of South Africa’s manufacturing capacity and to receive greater volumes of finished goods from South Africa.
“President Xi has committed China to open its markets to more South African products and would seek to further broaden the frontiers for Chinese investment in the South African economy,” President Ramaphosa said.
Ramaphosa also noted potential for increased cooperation in low-carbon technologies, such as electric vehicles, renewable energy, and green hydrogen, as well as infrastructure investment.
He mentioned that Chinese investment could support South Africa’s infrastructure modernisation plans, including port, rail, and road expansions.
Additionally, Ramaphosa emphasised the broader implications of this enhanced partnership for Africa.
At the Forum on China-Africa Cooperation (FOCAC), the African Continental Free Trade Area (AfCFTA) was highlighted as a significant opportunity for increased Chinese investment in Africa’s manufacturing sector and overall economic modernisation.
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