MyZA

News, Directory, Events and Other Stuff

You are here: Home / News / SA-China State Visit to focus on strengthening economic relations

SA-China State Visit to focus on strengthening economic relations

SA-China State Visit to focus on strengthening economic relations

With China being South Africa’s largest trading partner, the upcoming State Visit to the People’s Republic of China by President Cyril Ramaphosa is expected to fortify the economic relationship between the two countries.

In 2023, South Africa’s bilateral trade reached $34 billion, with exports totalling $12 billion and imports at $22 billion. 

“China’s substantial contribution to our investment drive has made it the largest source of foreign direct investment for South Africa. We anticipate concluding several important agreements during this State Visit, including a Framework Agreement on Development Cooperation, addressing the trade balance, and expanding market access,” spokesperson for the Minister of International Relations and Cooperation, Chrispin Phiri, said on Monday in Pretoria.

WATCH | 

Phiri said these agreements will strengthen South Africa’s Comprehensive Strategic Partnership with China and elevate regional and multilateral cooperation to support global peace and security.

The President will travel of China from 2 – 5 September 2024 to further strengthen diplomatic and trade relations between the two countries.

“This visit is a testament to the robust relations between our two nations, built on mutual respect and benefit. It follows President Xi Jinping’s fourth State Visit to South Africa, further strengthening our ties.

“The primary focus of this visit will be to fortify our economic relationship. South Africa’s largest trading partner, China, has played a pivotal role in our economy. 

“Our relations with China are central to realising our developmental agenda and efforts to implement the National Development Plan. This visit provides an opportunity to review progress on existing trade and cooperation, and to expedite and finalise new areas of collaboration,” he said.

While in China, the President will lead the South African delegation to the Forum on China-Africa Cooperation (FOCAC) Summit in Beijing from 4 to 5 September 2024.

The Summit, themed, ‘Joining Hands to Advance Modernisation and Build a High-Level China-Africa Community with a Shared Future’, will further South Africa’s cooperation under the Belt-and-Road Initiative, the Global Development Initiative, the Global Security Initiative, and the Global Civilisation Initiative (“Three Initiatives”).

SA-Japan developments

Meanwhile, Minister of International Relations and Cooperation Ronald Lamola successfully concluded his working visit to Japan, which coincided with the Tokyo International Conference on African Development (TICAD) Ministerial Meeting on 24-25 August 2024 in Tokyo.

Launched in 1993, TICAD is the first international developmental partnership with Africa. It advocates for Africa’s development agenda and strengthens economic cooperation between Africa and Japan.

The Minister led South Africa’s delegation at the Ministerial Meeting, held under the theme, ‘Realising a Sustainable Future’.

The Government of Japan convened this significant gathering in collaboration with the United Nations Development Programme (UNDP), the Office of the Special Adviser on Africa (UNOSAA), the World Bank, and the African Union (AU) Commission.

“The Minister’s visit to Japan coincided with Toyota’s announcement of a strategic investment of R 1.2 billion in the South African automotive industry and our first consignment of avocados to Japan. This marks a significant moment for our agricultural sector in the East Asia market.  

“These important economic developments will go a long way to drive faster industrialisation, job creation, and transformation implementation. The Minister reiterated that South Africa enjoys a significant relationship with Japan, underpinned by a fair economic partnership that contributes significantly to our nation’s economic development and people-to-people relations,” Phiri said. – SAnews.gov.za

nosihle
Mon, 08/26/2024 – 15:07

382 views

With China being South Africa’s largest trading partner, the upcoming State Visit to the People’s Republic of China by President Cyril Ramaphosa is expected to fortify the economic relationship between the two countries.

In 2023, South Africa’s bilateral trade reached $34 billion, with exports totalling $12 billion and imports at $22 billion. 

“China’s substantial contribution to our investment drive has made it the largest source of foreign direct investment for South Africa. We anticipate concluding several important agreements during this State Visit, including a Framework Agreement on Development Cooperation, addressing the trade balance, and expanding market access,” spokesperson for the Minister of International Relations and Cooperation, Chrispin Phiri, said on Monday in Pretoria.

WATCH | 

Phiri said these agreements will strengthen South Africa’s Comprehensive Strategic Partnership with China and elevate regional and multilateral cooperation to support global peace and security.

The President will travel of China from 2 – 5 September 2024 to further strengthen diplomatic and trade relations between the two countries.

“This visit is a testament to the robust relations between our two nations, built on mutual respect and benefit. It follows President Xi Jinping’s fourth State Visit to South Africa, further strengthening our ties.

“The primary focus of this visit will be to fortify our economic relationship. South Africa’s largest trading partner, China, has played a pivotal role in our economy. 

“Our relations with China are central to realising our developmental agenda and efforts to implement the National Development Plan. This visit provides an opportunity to review progress on existing trade and cooperation, and to expedite and finalise new areas of collaboration,” he said.

While in China, the President will lead the South African delegation to the Forum on China-Africa Cooperation (FOCAC) Summit in Beijing from 4 to 5 September 2024.

The Summit, themed, ‘Joining Hands to Advance Modernisation and Build a High-Level China-Africa Community with a Shared Future’, will further South Africa’s cooperation under the Belt-and-Road Initiative, the Global Development Initiative, the Global Security Initiative, and the Global Civilisation Initiative (“Three Initiatives”).

SA-Japan developments

Meanwhile, Minister of International Relations and Cooperation Ronald Lamola successfully concluded his working visit to Japan, which coincided with the Tokyo International Conference on African Development (TICAD) Ministerial Meeting on 24-25 August 2024 in Tokyo.

Launched in 1993, TICAD is the first international developmental partnership with Africa. It advocates for Africa’s development agenda and strengthens economic cooperation between Africa and Japan.

The Minister led South Africa’s delegation at the Ministerial Meeting, held under the theme, ‘Realising a Sustainable Future’.

The Government of Japan convened this significant gathering in collaboration with the United Nations Development Programme (UNDP), the Office of the Special Adviser on Africa (UNOSAA), the World Bank, and the African Union (AU) Commission.

“The Minister’s visit to Japan coincided with Toyota’s announcement of a strategic investment of R 1.2 billion in the South African automotive industry and our first consignment of avocados to Japan. This marks a significant moment for our agricultural sector in the East Asia market.  

“These important economic developments will go a long way to drive faster industrialisation, job creation, and transformation implementation. The Minister reiterated that South Africa enjoys a significant relationship with Japan, underpinned by a fair economic partnership that contributes significantly to our nation’s economic development and people-to-people relations,” Phiri said. – SAnews.gov.za

Watch a SA-China State Visit to focus on strengthening economic relations related video:

Have you visited MyPR?

MyPR.co.za offers free to publish press releases for your news site, blog or offline publication. Use the handy REPUBLISH facility or the Full Text RSS Feeds or just copy and paste.

Straton Electrical | Straton Solar | Straton Prepaid | Straton Plumbing | Straton IoT | Straton eBikes | BA Systems | Mbane Contracting | Reach Trust

Category: Tag: , , , , , , , , , , , , , , ,

If you feel strongly about this article then feel free to send MyZA a ‘Letter to the Editor’ using the submission form below:

Letter to the Editor

This field is for validation purposes and should be left unchanged.
If this is in response to an article please include that article title here or as the lead in for the first paragraph of your Letter below.

Separate tags with commas

Localise your letter by naming the city your words are about. Add relevant words describing your subject. Single comma separated words of no more than 5
Your Name(Required)
Your Name will be linked to the website below.
Your personal, business or social media web site
Choose NO to not set up a user account on MyZA. User Accounts will allow you to submit letters under your own Author Name

3 Latest Letters to the Editor:

  • Older Persons Grants Land Today — No Need to Queue at Dawn

    Dear Editor, Older Persons grants are paid today, 30 October, under SASSA’s revised November payment schedule — with disability grants on Monday 2 November, children’s grants on Tuesday 3 November, and grants under review on Thursday 5 November. Two things every beneficiary should know. First, grant money does not expire on payment day. It stays…

  • November Grants Pay Early – No Need to Queue at Dawn

    Dear Editor, I run SAGrant (sagrant.co.za), a free resource helping South Africans navigate SASSA grants. November grants pay earlier than usual. Older Persons grants are paid on Friday 30 October, Disability grants on 2 November, and Child Support and other grants on 3 November. Grants still under review are paid on 5 November. The money…

  • NSFAS 2027 applications close on 31 October — SASSA households, apply now

    Dear Editor, I run SAGrant (sagrant.co.za), a free resource helping South Africans navigate SASSA grants. NSFAS applications for the 2027 academic year close on Friday 31 October 2026, and no extension is expected. If your household receives a SASSA grant, your child already passes the NSFAS financial eligibility test — but they still have to…

Reader Interactions

Comments

  1. Hayibo! – wow! [Hai-bo] Derived from the Zulu word meaning “definitely not!” This word is usually expressed on its own, at the start or end of a sentence when something seems amazing.Example: “Hayibo! Ha! Ha! I can’t believe that!”