Ramaphosa happy with China relations!

PRESIDENT Cyril Ramaphosa said the relations between South Africa and China have strengthened trade and investment ties.

He said this will help to grow the economy of the two countries.

"It's clear that relations between South Africa and China have entered a new era of opportunity. Our visit has strengthened trade and investment ties and cemented our shared commitment to grow our economy, create jobs and advance prosperity for the people of our two countries," said Ramaphosa.

He said there was great potential and much interest for Chinese private commercial firms, state-owned enterprises and banks to invest in South Africa's infrastructure build programme.

Ramaphosa and several ministers attended the summit of the Forum on China-Africa Cooperation (FOCAC) last week, which brought together heads of state and governments from across the continent.

He and his Chinese counterpart President Xi Jinping jointly witnessed the signing of several bilateral cooperation instruments in the following areas, cooperation of the application of beidou navigation system, sustainable housing and human settlements development, deepening bilateral trade cooperation, cultural heritage, cooperation in prevention and control of foot-and-mouth disease, inspection quarantine and sanitary requirements for dairy products exported from the Republic of South Africa to the People's Republic of China and the protocol on greasy wool and cooperation in the scientific field.

Ramaphosa mentioned that they had an opportunity to meet several Chinese companies that operate in South Africa or are looking at opportunities in the country.

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One of these companies was Hisense, a Chinese electronics manufacturer.

"Just over 10 years ago, Hisense established a R350 million manufacturing plant in Atlantis Industrial Park in the Western Cape. Having grown into a prominent brand in the South African market, Hisense is now exporting some of its products to other African countries and the United Kingdom from its Atlantis plant," he said.

The company reports that it has created over 1 000 direct and more than 5 000 indirect jobs in Atlantis. He pointed out that during the state visit, the two countries agreed to upgrade their relationship to an All-Round Strategic Cooperative Partnership in a New Era.

He said this signifies the strengthening of the political, economic and social ties between Mzansi and China. "China is our largest trading partner, having overtaken the European Union in 2023. However, there's an imbalance in the structure of our trade. South Africa exports mainly minerals and agricultural products to China and imports largely manufactured products from China," said Ramaphosa.

He said that Xi expressed his support for the development of South Africa's manufacturing capacity and to receive greater volumes of finished goods from South Africa.