Business Unity South Africa (Busa) calls for new partnership with Chinese businesses
Thématique :
chine,
sud afrique
Business Unity South Africa (Busa) on Tuesday called for a new partnership for economic cooperation between Chinese and South African businesses.
“We need a new partnership between our two economies, one that recognises the potential and benefits for local beneficiation in South Africa. A partnership that sees investments in infrastructure development in Africa as a vehicle for development, and an essential foundation for enhanced future trade and economic cooperation,” said Busa CEO Jerry Vilakazi.
In a copy of a speech delivered at this year’s World Industrial and Commercial Organisation’s Forum, in Being, Vilakazi assured Chinese investors and business leaders of political and economic stability in South Africa. “We remain very confident of the political and economic stability of our country. The new leadership of the African National Congress, under Jacob Zuma, has more than assured us of their commitment to economic policy continuity.”
Vilakazi added that Busa expected the new government to to continue working in partnership with the private sector to tackle poverty, inequality, and unemployment.
He noted that besides the agreement between South Africa’s Standard Bank and the Industrial and Commercial Bank of China, Chinese investments into South Africa had been very limited, while South African investments in China had grown to over $800-million.
Vilakazi also welcomed the decision by leaders of the Southern African Development Community, the Common Market for Eastern and Southern Africa, and the East African Community to form a single, free trade area, which would span from Cape to Cairo. He noted that the 26 member countries of the three trade groups had a combined population of 527-million, and a total gross domestic product of $624-billion, which made a strong case for renewed partnership in trade and investment between China and South Africa.
After the US, China is the second largest trading partner with South Africa. Two way trade between Africa and China was expected to reach well over $117-billion in 2008, an estimated increase of 60% over the total recorded in 2007. About 22% of China’s exports to Africa goes to South Africa, while South Africa boasts the second highest exports into China, at about 14%.
“We need a new partnership between our two economies, one that recognises the potential and benefits for local beneficiation in South Africa. A partnership that sees investments in infrastructure development in Africa as a vehicle for development, and an essential foundation for enhanced future trade and economic cooperation,” said Busa CEO Jerry Vilakazi.
In a copy of a speech delivered at this year’s World Industrial and Commercial Organisation’s Forum, in Being, Vilakazi assured Chinese investors and business leaders of political and economic stability in South Africa. “We remain very confident of the political and economic stability of our country. The new leadership of the African National Congress, under Jacob Zuma, has more than assured us of their commitment to economic policy continuity.”
Vilakazi added that Busa expected the new government to to continue working in partnership with the private sector to tackle poverty, inequality, and unemployment.
He noted that besides the agreement between South Africa’s Standard Bank and the Industrial and Commercial Bank of China, Chinese investments into South Africa had been very limited, while South African investments in China had grown to over $800-million.
Vilakazi also welcomed the decision by leaders of the Southern African Development Community, the Common Market for Eastern and Southern Africa, and the East African Community to form a single, free trade area, which would span from Cape to Cairo. He noted that the 26 member countries of the three trade groups had a combined population of 527-million, and a total gross domestic product of $624-billion, which made a strong case for renewed partnership in trade and investment between China and South Africa.
After the US, China is the second largest trading partner with South Africa. Two way trade between Africa and China was expected to reach well over $117-billion in 2008, an estimated increase of 60% over the total recorded in 2007. About 22% of China’s exports to Africa goes to South Africa, while South Africa boasts the second highest exports into China, at about 14%.
