Pretoria: Trade and Industry Director General Lionel October on Thursday encouraged Chinese companies to invest in South Africa.
China has invested significantly in Africa with Chinese manufacturer First Automobile Works investing $100 million to build a vehicle and truck assembly plant in Coega, South Africa. The project to date has produced 1000 jobs.
Relations between South Africa and China were of a win-win mutual economic benefit. South Africa he said has moved from exporting primary to value-added and more technologically advanced products.
Addressing delegates at an investment seminar in Shanghai, October said the relationship between the two countries should be seen more as a continent to continent relationship rather than two countries forming an alliance.
October said the Memorandum of Understanding between the International Brand Management Centre (IBMC) and Trade and Investment South Africa would help South African enterprises gain access into the Chinese market. The memorandum between the two institutions was signed earlier this week.
The understanding further stipulates that IBMC will provide comprehensive services to introduce and promote South Africa’s products and services in the Chinese market and develop local distributors for selected South African enterprises and exporters.
The South African Expos is currently being hosted in China, an initiative that seeks to expand the basket of export products into China, and change the current structure of trade to comprise more value-added products over the long term.
The expos event will conclude tomorrow and 68 South African companies from different sectors are taking part in the exhibition.