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Durban - In the framework agreement for trade signed a few weeks ago during President Jacob Zuma’s state visit to China, China committed itself to mineral enrichment in South Africa.
On Wednesday at a breakfast seminar held by the Progressive Business Forum at the ANC’s National General Council meeting in Durban, Ebrahim Patel, Minister of Economic Development, said that South Africa would in the coming months become involved in several discussions with Chinese industrialists and government representatives.
He said this would offer South African entrepreneurs several opportunities to set up tangible industries in this country in partnership with Chinese companies.
According to Patel, South Africa had in recent months held discussions with China about trade structures between the two countries. Considerable progress had been made during Zuma’s official visit.
In the framework for a strategic partnership with China that was signed during the visit a couple of key acknowledgements were made that were both unusual and of great import for this country, he said.
One was that the structure of trade between the two countries should alter and exports from South Africa to China should have more value added.
The Chinese government committed itself to invest in South Africa, and Chinese companies would establish manufacturing operations here in partnership with local players.
In the agreement South Africa and China committed themselves to mineral enrichment at source.
This is a very important breakthrough for all of us, because it recognises that we will have to create more jobs in developing our mineral resources.
What China wants is security of supply.
In turn, South Africa wants to create economic development opportunities by providing a safe supply, said Patel.
This announcement could lead to significant investments flowing in for manufacturing plants in South Africa’s iron, coal, platinum, manganese and chrome industries.
But Patel pointed out that governments could not tackle these industries alone. The role of the private sector would be decisive in this regard.
The first phase of China’s industrialisation was built on partnerships between foreign investors and Chinese companies, the minister said.
- Sake24
For business news in Afrikaans, go to Sake24.com.
On Wednesday at a breakfast seminar held by the Progressive Business Forum at the ANC’s National General Council meeting in Durban, Ebrahim Patel, Minister of Economic Development, said that South Africa would in the coming months become involved in several discussions with Chinese industrialists and government representatives.
He said this would offer South African entrepreneurs several opportunities to set up tangible industries in this country in partnership with Chinese companies.
According to Patel, South Africa had in recent months held discussions with China about trade structures between the two countries. Considerable progress had been made during Zuma’s official visit.
In the framework for a strategic partnership with China that was signed during the visit a couple of key acknowledgements were made that were both unusual and of great import for this country, he said.
One was that the structure of trade between the two countries should alter and exports from South Africa to China should have more value added.
The Chinese government committed itself to invest in South Africa, and Chinese companies would establish manufacturing operations here in partnership with local players.
In the agreement South Africa and China committed themselves to mineral enrichment at source.
This is a very important breakthrough for all of us, because it recognises that we will have to create more jobs in developing our mineral resources.
What China wants is security of supply.
In turn, South Africa wants to create economic development opportunities by providing a safe supply, said Patel.
This announcement could lead to significant investments flowing in for manufacturing plants in South Africa’s iron, coal, platinum, manganese and chrome industries.
But Patel pointed out that governments could not tackle these industries alone. The role of the private sector would be decisive in this regard.
The first phase of China’s industrialisation was built on partnerships between foreign investors and Chinese companies, the minister said.
- Sake24
For business news in Afrikaans, go to Sake24.com.
