A prestigious event has been hosted at Sandton, in Johannesburg in a bid to invite South African companies to participate at this year’s 7th China International Import Expo, which will be held in November.
Over the past six years, the China International Import Expo has attracted more than 10,000 overseas enterprises to participate and release more than 2,400 new products, technologies and services.
Last year, the 6th China International Import Expo marked the first physical session hosted after years of the Covid-19 pandemic. South Africa participated in the national exhibition of the international expo as the only “guest country of honour from Africa”.
Deputy President Paul Mashatile led the South African delegation which attended the opening ceremony and delivered a speech.
At the promotional event ahead of the 7th at Sandton, Minister Counsellor of the Chinese Embassy in South Africa, Liu Yu said the event will be another key milestone for deepening China-South Africa economic and trade cooperation.
“Last August, President Xi Jinping paid a state visit to the rainbow nation and jointly led China-South Africa relations into a golden era with President (Cyril) Ramaphosa. During his visit, the two countries issued a joint statement stating that the two sides stand ready to improve the current trade structure, address market access, enhance two-way investment, and to keep industrial and supply chains stable and secure,” she said.
At the time, South Africa committed to actively participate in the China International Import Expo and the China-Africa Economic and Trade Expo, and support exchanges of economic and trade delegations from the two countries.
“As the world’s first import expo held at the national level, the China International Import Expo has provided a fast lane of economic and trade cooperation, through which global goods and services can enter Chinese market faster. Against the backdrop of weak momentum for global economic recovery, surging unilateralism and trade protectionism, the China International Import Expo is like a huge magnetic field,” said Liu.
“It not only attracts high-quality products, advanced technologies and high-end services to China, but also brings precious opportunities of market, investment and growth to the world.”
More than 30 South African companies participated in the 6th China International Import Expo, “writing down vivid footnotes to our bilateral economic and trade development”, said Liu.
South Africa’s red wine, beef, Rooibos tea, aloe gel and other featured products have attracted many buyers in China.
Various South African high-quality products have entered numerous Chinese households through the platform of the China International Import Expo, and are now “fully recognised” by Chinese people.
The Embassy of China is South Africa said preparations for the 7th China International Import Expo are in full swing.
“It continues the theme of New Era, Shared Future, demonstrating China’s firm determination to continue to expand opening up and share development opportunities with the world.
“Here, I sincerely invite South African and African companies to participate in the 7th China International Import Expo in China. Let us gather on the banks of the Huangpu River to keep an Oriental appointment. Together with China, let the breeze of openness bring warmth to the world,” said Liu.
In 2023, bilateral trade volume between China and South Africa reached US$55.62 billion, accounting for 20% of the total trade between China and Africa.
At the Sandton event, head of International Trade, Business and Commercial Banking at Standard Bank Group, Luthando Vuba said the company has been a proud supporter and participant of the China International Import Expo – since the inaugural event in 2018.
“We are honoured to have the China International Import Expo delegation visit our beautiful country, South Africa. In our estimation, the importance of the CIIE cannot be overstated. The scale of the China International Import Expo is unmatched in the Africa-China trade corridor, making it a truly grand event and a crucial platform to assist our export-ready African clients gain access to the vast opportunities present in the Chinese market,” he said.
“Furthermore, the China International Import Expo provides an important stage that enables us to leverage our long-term partnership – which is now in its 16th year – with the world's largest bank, the Industrial and Commercial Bank of China (ICBC), in fostering new alliances between our respective client bases, for mutual benefit.
“Through these combined efforts with ICBC, we facilitated an impressive US$600 million in trade flows between Africa and China in 2022 through various initiatives, including the leveraging of the powerful China International Import Expo CIIE platform – and these trade flows continue,” he said.
“Following successful negotiations, two contracts were signed to the value of US$725,000 and a fruitful new trade partnership was established. This is one of many such examples that stand as a testament to the power of collaboration,” said Vuba.
China has been South Africa’s largest trading partner for 15 consecutive years, and South Africa has been China’s largest trading partner in Africa for 14 consecutive years.
Meanwhile, Deputy Director-General of the China International Import Expo Bureau, Song Shangzhe said that because South Africa has been China’s biggest trading partner in Africa for 14 years in a row, his delegation had travelled 10,000 kilometres to visit South Africa.
“We wish to deliver a message that the China International Import Expo, adhering to the principles of sincerity, real results, amity and good faith presented by President Xi Jinping, is serious on implementing the follow-up actions of the FOCAC Summit and FOCAC ministerial conferences,” he said.
“We wish to demonstrate that CIIE symbolises China’s sincere desire to share its market with South Africa and other countries in Africa. In the past six years from its debut, China International Import Expo has gathered quality African goods, contributing to booming China-Africa economic and trade cooperation, and supporting African enterprises to exploit the huge Chinese market.
“We are delighted to extend a sincere invitation from China International Import Expo to you. We are eager to increase imports from Africa and actively support African companies in entering the Chinese market,” said Song.
China is also one of the largest sources of investment in South Africa, with a total investment stock of over US$10 billion, creating more than 400,000 jobs for people in South Africa.
Meanwhile, Deputy Director-General for the Department of Trade, Industry and Competition, Lerato Mataboge said she already expresses South Africa’s intention to participate in the upcoming China International Import Expo.
“In this regard, we commend the Chinese government’s efforts to continuously host the China International Import Expo, thereby opening the Chinese market to the world and to Africa in particular,” she said.
“This unique platform provides companies around the world the opportunities to showcase their products and services, to expand their networks, to conclude trade deals, and to learn about the culture of doing business with Chinese enterprises - including Chinese consumer preferences.”
She said South Africa will utilise its participation in the China International Import Expo to strengthen the South Africa-China trade and investment relationship and position it for the future.
“China is South Africa’s largest trading partner. Our focus for the future is on continuing to increase our trade and on ensuring that South Africa exports more manufactured and value-added products to China, thus changing the composition of our trade,” said Mataboge.
“Two-way trade between the two countries last year was in excess of R900 billion and Chinese investment in South Africa is now close to R200 billion in sectors such as mining, telecommunications, and manufacturing, producing automotives, electronics and household goods.”
IOL