SA and China urged to strengthen trade and investment relations

05 Sep, 2024

SA and China urged to strengthen trade and investment relations

A South African business delegation has emphasized the need for stronger trade and investment relations between South Africa and China. As the world's second-largest economy, China presents significant opportunities for collaboration.

Ahead of the Forum for China-Africa Cooperation (FOCAC) summit, South African business leaders, including Standard Bank CEO Sim Tshabalala, met with their Chinese counterparts to discuss potential partnerships. Tshabalala highlighted the importance of Chinese investment and expertise in South Africa’s infrastructure development, covering sectors such as energy, logistics, and telecommunications.

He pointed out the need for vast funding and technical capabilities to execute critical projects, ranging from power generation to upgrading the country’s rail, road, and port networks. In addition, he noted the importance of financial resources for other essential infrastructure, including water systems and telecommunications.

This partnership aims to drive economic growth in South Africa, leveraging China’s engineering and manufacturing expertise. By working together, both nations can enhance their economic ties and promote mutual benefits, particularly in infrastructure development.