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South Africa eyes Chinese market for more exports
The South African government said on Sunday that it will use a trade fair in China to export more products to the Asian country, as China is moving from being a leading exporter to a consumer and investor focused economy.
For this purpose, a high-level delegation comprising 62 South African companies will attend the 17th annual China International Fair for Investment and Trade (CIFIT), taking place in China’s Xiamen from Sept. 8 to 11, the Government Communication and Information System (GCIS) said.
The CIFIT is China’s international investment promotion event aimed at facilitating bilateral investment, showcasing not only the investment environments, investment policies, investment projects, but also attracting investment promotion agencies from various countries and regions.
After CIFIT, the South African Expos in China will be held in Shanghai and Beijing from Sept. 11 to 13, according to the GCIS.
The expos is an annual event aimed at executing South Africa’s strategic objectives focusing on value-added products and investment projects.
South Africa has been granted the status of the Country of Honor at the CIFIT this year, as part of the celebrations of 15 years of China-South Africa Diplomatic relations, according to SA Trade and Industry Minister Rob Davies, who is leading the SA delegation.
Davies said 15 sectors from South Africa will take part in this year’s South Africa-China Expos.
“Participating companies are in the sectors of agro-processing, chemicals, plastics, steel, aluminium, automotive, capital equipment and allied services, electro-technical, mining and beneficiation, renewable energy, infrastructure, oil and gas,” Davies said in remarks distributed by the GCIS.
Information Communication Technology (ICT) and transport will also get an opportunity to showcase their products at the trade fair, according to the minister.
“In addition, Chinese and South African companies will be encouraged to explore co-operation opportunities in infrastructure projects such as roads, railways, ports, power generation, airports and housing through a series of business to business meetings and investment seminars to be held during their visit to China,” added Davies.
According to Davies, South Africa’s exports to China reached an all-time high in 2011, valued at 85 billion rand (about 8.5 billion U.S. dollars), displaying a 45-percent increase in South African exports from 2010.
Although China is South Africa’s major trading partner, the majority of trade still resides in the commodities sector, which does not reflect well on the manufacturing sector, the GCIS said.
In order to address this, Davies stated that South Africa has prioritized top 10 value-added products for export to China.
