Article by China Homelife Fair and China Machinex
Strong trade relations between South Africa and China is vital for both countries. It directly impacts our local South African economy and as a result, your growing business. We have highlighted a few poignant facts about the importance of trade relations between these two countries.
- Both South Africa and China form part of BRICS (Brazil, Russia, India, China and South Africa). These five developing countries are united in working bilaterally to improve economic growth, employment, and their global economic footprint through strong trade relations.
- China is the world-leader when it comes to the manufacturing of products across a broad spectrum of industries, and is currently South Africa’s largest partner in trade.
- In 2015/2016, exports from China amounted to nearly R170 billion in business between South Africa and China.
- The action plan between the two governments, is to strengthen the trade relationship between the two countries, with the aim to accelerate the growth of exports to South Africa as well as exports to China.
- The bilateral trade agreement will help facilitate economic growth, helping the South African economy to flourish in a time of economic uncertainty and instability.