R/€ = 15.09Change: -0.07
R/$ = 14.21Change: -0.07
Au 1071.55 $/ozChange: -0.50
Pt 853.50 $/ozChange: 8.00
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?

And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters About Us
RSS Feed
Article   Comments   Other News   Research   Magazine  
May 21, 2008

China adresses imbalances as trade with SA soars

© Reuse this As China and South Africa celebrated ten years of diplomatic ties, trade cooperation was discussed, and a focus on addressing bilateral trade imbalances was emphasised.

South African Deputy Minister of Trade and Industry Dr Rob Davies noted that total trade between South Africa and China was up from R5,2-billion in 1998, to R72,9-billion in 2007. He also noted that imports from China into South Africa totalled about R49,1-billion, and exports from South Africa to China were about R23,7-billion.

"That poses some very significant challenges to us, to narrow the gap, and to increase exports of higher value-added products," Davies stated. Some of the potential products identified for export to China included motor vehicles and components, steel products, platinum products, various agro-industrial products as well as services such as financial services.

Former vice foreign Minister of China Ji Peiding said that it was inevitable that some undesirable elements emerge in the rapid growth of China-Africa cooperation.

"There are some bilateral trade imbalances - some African industries are challenged by Chinese imports, and some Chinese companies have failed to meet environmental and labour standards. To solve these problems the Chinese government has worked earnestly with the African side and taken proper measures to address them," Peiding said.

In an effort to balance China Africa trade, China had given zero-tariff treatment to some African export commodities, and set up a China-Africa Development Fund for capacity building in Africa.

The Chinese government had also "limited its export to South Africa to help improve the competitive edge of relevant industries in South Africa". The most notable was the limit of textile imports from China into South Africa. "The clothing and textile quota agreement has been significant and created a breathing space for restructure of the South African industry," reiterated Davies.

Achievements in Sino-African relations were said to have reached new heights through the ICBC-Standard Bank deal, which was an investment of some $5,46-billion.

"Such mutual investment has injected new vitality into our economies," affirmed Peiding. And indeed, Davies observed that in the current global economic downturn, South-South, or China-Africa relations, offered a buffer against the global financial crisis. It was no longer the case that "when the US caught a cold the rest of us got double pneumonia", he said.

China's growth was estimated by the International Monetary Fund to decline from 11,4%, to "a still impressive" 9,3%.

Peiding stated that China was willing to share its development experience with African countries. "The mature technologies and equipment that China has developed over the past decades are more suitable to the conditions of developing countries, and more economical and applicable for African countries," he added.

"There are some people accusing China of using its cooperation with Africa to plunder African energy and mineral resources. China will never accept such unwarranted accusations, and nor will African countries," stated Peiding, and noted the more than 900 infrastructure and public welfare projects on the African continent that China had been involved in.

"China-Africa cooperation creates conditions to transform our resources and technological advantages into development advantages, which is what win-win cooperation is all about," Peiding remarked.

Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
© Reuse this Comment Guidelines (150 word limit)
Other Video News
Latest News
CTLE's Nigel facility
Updated 6 minutes ago  Rail group Alstom announced on Thursday that it had signed an agreement to purchase 51% of South African rail company Commuter Transport & Locomotive Engineering (CTLE), for an undisclosed amount. CTLE, specialising in the modernisation of trains, was previously...
Coal deal described as accretive.
Updated 35 minutes ago The share price of Coal of Africa (CoAL) shot up 14.81% in Johannesburg on CoAL’s takeover offer of $91-million for Universal Coal, which had been pursued by IchorCoal. The deal is to be funded $36.8-million through loan notes, $25.7-million from internal cash...
Professor Sohail Inayatullah
Updated 36 minutes ago Future studies researcher and specialist Professor Sohail Inayatullah will deliver an interactive master class on strategic foresight and strategy development in Johannesburg early next month. The Pakistani-born Australian academic is a fellow of the World Futures...
Recent Research Reports
Water 2015: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2015 Report considers the aforementioned issues, not only in the South African context but also in the African and global context in terms of supply and demand, water stress and insecurity, and access to water and sanitation, besides others.
Input Sector Review: Pumps 2015 (PDF Report)
Creamer Media’s 2015 Input Sector Review on Pumps provides an overview of South Africa’s pumps industry with particular focus on pump manufacture and supply, aftermarket services, marketing strategies, local and export demand, imports, sector support, investment...
Liquid Fuels 2015: A review of South Africa's liquid fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2015 Report examines these issues in the context of South Africa’s business environment; oil and gas exploration; fuel pricing; the development of the country’s biofuels industry; the logistics of transporting liquid fuels; and...
Road and Rail 2015: A review of South Africa's road and rail sectors (PDF Report)
Creamer Media’s Road and Rail 2015 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail infrastructure and network, the funding and maintenance of these respective networks, and...
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
This Week's Magazine
Additive manufacturing, better known as 3D printing, has the potential to completely change the relationships between individual consumers, professional designers and manufacturers. So argued Loughborough University Reader in Computer Aided Product Design Dr Ian...
Airbus Defence and Space: Military Aircraft has highlighted that its A330 Multirole Tanker Transport (MRTT) has significant commonalities with the Airbus A330-200 commercial airliner, upon which it is based. The South African Air Force (SAAF) once operated a fleet of...
Financial services provider Nedbank launched the second edition of its Carbon Footprinting Guide earlier this month, which is aimed at demystifying carbon footprint approaches and help readers grasp the main concepts of carbon measuring, monitoring, reporting and...
This year marks the thirtieth anniversary of Caterpillar’s first backhoe loader. This also coincides with the worldwide release of its latest-generation F2 series backhoe loader, which was launched at supply chain services company Barloworld Logistics’ Big Dig Day in...
BARRY DWOLATZKY The CPD programme provides advanced skills required locally, and provides a stepping stone to Wits University’s Master of Engineering degree in software engineering
A shortage of software engineers is leading to fewer information technology (IT) projects in private and public sector organisations. This also places a dampener on the economy, as IT is an integral part of business and civil service, says University of Witwatersrand...
Alert Close
Embed Code Close
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96