South Africa, China ink trade agreements of $2.2 bln

By Nada Ali On Aug 14, 2023

Trade, Industry and Commerce Minister Ebrahim Patel and Chinese Commerce Minister Wang Wentao presided at a trade deals signing ceremony, supported by Chinese Ambassador to SA, Chen Xiaodong and South Africa's Ambassador to China Siyabonga Cwele. Photo Credit: Supplied

China-South Africa relations have strengthened with the signing of 20 deals by the Chinese companies to buy products worth $2.19 billion from South African companies, Bloomberg reported on Thursday.

The agreements came during a visit to the country by Chinese Commerce Minister Wang Wentao, as South African and Chinese government officials attended a signing ceremony in Johannesburg on Thursday.

The deals will create jobs in the country and grow the economy. South African companies that signed the deals included Anglo Platinum, Glencore and Sappi, said Ebrahim Patel, South Africa’s minister of Trade, Industry and Competition.

“The two parties agreed to address customs fraud and under-invoicing in a determined manner. China agreed to partner South Africa’s efforts to industrialise further and to transition to a greener manufacturing economy,” said Patel.