South Africa signs $14bn trade agreements with China
President Cyril Ramaphosa said on Tuesday that the South African government had signed several agreements, including memorandums of understanding on investments, amounting to $14.7-billion with China.
Various government departments signed agreements with the Chinese government in areas such as the simplification of visas, while State-owned enterprises such as Eskom and Transnet, and private sector companies Standard Bank and Naspers also signed agreements.
The agreements were signed on the eve of the three-day 10th BRICS Summit, which opens in Johannesburg on Wednesday.
"We have signed several agreements and memorandums of understanding that are intended to further deepen our relations, including investment commitments that have been struck to the value of $14.7-billion," Ramaphosa said.
"President Xi indicated that China is ready to invest, and to work with South Africa in various sectors such as infrastructure, oceans economy, green economy, science and technology, agriculture, environment, as well as finance."
Ramaphosa was hosting the president of the People's Republic of China, Xi Jinping, who began his state visit at the Union Buildings in Pretoria ahead of the BRICS meet on Wednesday.
Ramaphosa said that government recognised that though trade figures had grown steadily over the past two years, bilateral trade had not reached its full potential, hence avenues were being explored for increasing trade and identifying sectors for future investment, and promoting tourism between the two countries.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
