China and South Africa Strengthen Investment and Trade Cooperation

Dr Siyabonga Cwele

South Africa and China Investment and Trade Roundtable

China-Africa Development Fund, The Embassy of South Africa and the Department of Commerce of Zhejiang Province co-hosted the China and South Africa Investment and Trade Indaba. The event held on the 8th of July ran with the theme: New Development Pattern and New Opportunity

The Indaba aimed to link both South African and Chinese investors to identify new opportunities that will benefit both people. The event was held both physically and virtually. The South African Ambassador to China, Dr Siyabonga Cwele hosted the event together with the CEO of China-Africa Development Fund, Mr Mei Shiwen.

Speaking during the event Dr Siyabonga Cwele said that South Africa and China shared a long history of both political and economic cooperation for decades. These are illustrated by the large number of Chinese residing in South Africa and the over 180 prominent Chinese companies operating in South Africa. He went on to say that South Africa had established 10 special economic zones in strategic locations around the country. Investors will be offered preferential corporate tax regime, support, employee tax incentives, favourable custom regulations and support for capital and training.

President Cyril Ramaphosa, President Xi Jinping and their First Ladies

China and South Africa continue to grow their bilateral relations which was established on the 1st of January 1998 when the two signed their diplomatic agreement. The signing of the Pretoria Declaration on Partnership and the setting up  the Bi-National Commission, China and South Africa have engaged in different developmental projects. The two have over the years of cooperation signed a series of government agreements on protection of investments which came into effect on July the 13th 2018, trade, economic and technical cooperation, avoidance of double taxation and many others.

According to the report by the South African Embassy in Beijing, over the next 18 months there will be a series of investment seminars around China introducing more sectors for investment opportunities.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s