Mabuza arrives in Shanghai, hopes to elevate trade relations
PRETORIA – Deputy President David Mabuza on Friday arrived in Shanghai, China, for the trade and investment leg of the 7th South Africa-China Bi-National Commission aimed at increasing economic ties between the two countries.
China remains South Africa’s largest trading partner, and those strong ties should be increased, Mabuza said.
“Whereas South Africa and China enjoy solid economic relations, we are determined to increase the amount of trade and investment between the two countries particularly in the areas of agricultural produce, value-added goods, technology and investment in infrastructure development among others,” he said.
About 26 companies invested R88 billion in capital expenditure in China between January 2003 and August 2019. On the other hand, 88 Chinese companies invested R116 billion in South Africa over the same period – according to government figures.
Mabuza’s spokeswoman Matshepo Seedat said the existing strong ties would be elevated after this visit.
Source: iol.co.za
