SA inks trade deal with China

MEC for Economic Development & Tourism, Mike Mabuyakhulu, has been linked to the multimillion-rand "Amigos" water purification scandal. Photo: Colleen Dardagan

MEC for Economic Development & Tourism, Mike Mabuyakhulu, has been linked to the multimillion-rand "Amigos" water purification scandal. Photo: Colleen Dardagan

Published Nov 9, 2015

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Durban - China and South Africa signed a trade, investment and partnership agreement on Friday that cemented KwaZulu-Natal and South Africa’s business ventures with the country.

The Chinese southern province of Guangdong brought 80 enterprises to KZN last week to share information on how the two provinces could work together to empower each other’s economy.

The Durban Chamber of Commerce and Industry hosted the signing on Friday. Chen Qiu Yan, president of China Council for the Promotion of International Trade: Guangdong Committee, said the provinces are strong economically.

“We believe there will be high trade prospects for both provinces. Some of the focuses will be tourism and what each province has to offer for the benefit of the other.

Contracts

“The enterprises we brought to Durban have already visited the Dube Trade Port and Richards Bay Development Zone. Investment contracts have been signed between our enterprises and the local ones,” said Chen.

The value of the investment contracts, however, was not made public.

Chen said a tourism office and one for Guangdong had opened the week before Friday’s event.

Zhao Yufang, Guangdong’s vice-governor, said his province had achieved a $25.5 billion (R350bn) trade with South Africa last year alone.

“In preparation for this visit to this province, I had a meeting with Mike Mabuyakhulu (MEC for Economic Development and Tourism) who asked me what Guangdong could do for KZN. I told him that my province could do anything.

“It is China’s largest importer and exporter and contributed $10.6 trillion to the country’s gross domestic product,” said Zhao.

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