SA gears up for China-Africa summit

FILE: Minister of Trade and Industry Rob Davies addressing delegates during the Hisense Export conference with African partners.The conference is held at lagoon beach. Picture Cindy waxa.Reporter Joe/Argus

FILE: Minister of Trade and Industry Rob Davies addressing delegates during the Hisense Export conference with African partners.The conference is held at lagoon beach. Picture Cindy waxa.Reporter Joe/Argus

Published Nov 19, 2015

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#FOCAC: Johannesburg - South Africa is set to be host to the 2015 Forum on China-Africa Cooperation (FOCAC) Summit, which will take place from December 4-5 at the Sandton Convention Centre.

This summit is happening alongside a meeting of heads of state and will include major events such as the sixth ministerial FOCAC conference, which will be complemented by the FOCAC exhibition and business forum. South Africa is the current co-chair of FOCAC for the period 2013-2018.

FOCAC comprises 50 African states that are African Union members,

The Department of Trade and Industry, in a statement, notes this year’s summit will “provide an opportunity for deepening economic and political relations between the second largest economy in the world and one of the fastest growing regions in the world”.

Since the last FOCAC ministerial conference, in 2012, trade between China and Africa has grown to R1.8 billion from a 2012 baseline of R1.2 billion.

Noting the widening balance of trade gap, which stood at R289 billion, trade and industry minister Rob Davies emphasised the need to “establish a new economic growth trajectory that moves away from the trading of primary commodities towards the exporting of value-added products with China, which in itself is an opportunity for stronger relations between China and Africa”.

The department is set to organise a business forum and exhibition between December 3 and 5, which it says will embrace the theme of “China-Africa Cooperation for Common Development: Catapulting the African Industrialisation Renaissance.”

Davies says companies have the opportunity to showcase the economic prowess of the African continent with a particular focus on advanced manufacturing, energy, technology, rail, aviation, ICT, financial services and beneficiation.

In addition, Davies notes South African and African companies should expect several positive outcomes from the business forum and exhibition. Amongst others, an increased flow of foreign direct investment into the continent, new value chains being identified and exploited as well as the diversification of the trade basket away from the current commodity based composition are expected benefits.

Companies are encouraged to apply to participate in the exhibition and may obtain application forms from the dti website.

Adapted from a press release. IOL is a media partner for FOCAC

IOL

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