The upgrading of China and South Africa’s Comprehensive Strategic Partnership to an All-Round Strategic Co-operative Partnership spelled a new era that would elevate mutually beneficial political and economic ties for the benefit of both countries and their people.
Giving his opening remarks at the official talks with President Xi Jinping during his state visit to China yesterday, President Cyril Ramaphosa said the two countries had witnessed an increase in their bilateral trade.
“However, as South Africa, we would like to narrow the trade deficit and address the structure of our trade. We were encouraged by the inward procurement mission of Chinese companies last year,” Ramaphosa said.
“We urge for more sustainable manufacturing and job-creating investments. Development co-operation between our two countries continues to grow, covering many areas. We welcome the progress made in several FOCAC-related projects,” Ramaphosa said in reference to the Forum on China-Africa Co-operation.
During the state visit, the two heads of state were said to have had an in-depth exchange of views on further developing China-South Africa and China-Africa relations, including regional and global issues of mutual interest.
The two sides reaffirmed that they cherished the special and ever-growing friendship between the two countries and recommitted to working together towards building a high-quality China-South Africa community, with a shared future.
To carry forward the friendship, consolidate mutual trust, expand co-operation and enhance co-ordination, the two heads of state agreed to elevate the bilateral relationship to an All-round Strategic Co-operative Partnership in a New Era, underpinned by strong political ties and focused on a prosperous future with balanced trade, and accelerated transformative economic growth.
The heads of state reached a series of important common understandings, which included working towards a high-quality China-South Africa community with a shared future, China firmly supporting national unity and the path of economic and social development that South Africa has chosen.
On synergising Belt and Road co-operation and South Africa’s National Development Plan, the two sides agreed to work on strengthening co-operation and synergy between the Belt and Road Initiative and the Economic Reconstruction and Recovery Plan, and to continue implementing the 10-Year Strategic Programme of Co-operation between the People’s Republic of China and the Republic of South Africa (2020–2029), as a blueprint towards more substantive outcomes on priority political and socio-economic issues between the two sides.
The two sides agreed to fully leverage the role of mechanisms such as the China-South Africa Joint Working Group (JWG) and the Joint Economic and Trade Committee (JETC) to further expand economic and trade ties by improving the current trade structure, increasing market access and the export of value-added goods from South Africa.
The two sides encouraged the respective business communities to enhance new two-way investments and increase their manufacturing bases within the proximity of the relevant source of raw materials to enable the transfer of skills technology and job creation and committed to providing a stable, fair and enabling business environment for companies from both sides and to ensure the safety and legitimate rights and interests of the relevant personnel, projects and institutions. They also encouraged mutual visits by economic and trade delegations, including co-hosting the New Energy Investment Conferences with South Africa and holding the Jobs Fair of Chinese-invested Enterprises in South Africa to boost local employment and improve people’s lives.
On working together to build an equal and orderly multipolar world and universally beneficial and inclusive economic globalisation both sides undertook to continue to uphold the core values and basic principles of the World Trade Organization, oppose decoupling and disruption of global supply chains, resist unilateralism and protectionism, call for reform of the international financial system, and improve development financing for African countries to achieve common prosperity.
As part of the state visit, the two presidents jointly witnessed the signing of several bilateral co-operation instruments in the following areas: Co-operation of the Application of BeiDou Navigation Satellite System; Sustainable Housing and Human Settlements Development; Deepening Bilateral Trade Co-operation; Cultural Heritage; Co-operation in Prevention and Control of Foot-and-Mouth Disease; Inspection, Quarantine and Sanitary Requirements for Dairy Products Exported from the Republic of South Africa to the People’s Republic of China; and the Protocol on Greasy Wool.
BUSINESS REPORT