Ramaphosa calls for balanced trade between SA and China

South African President Cyril Ramaphosa has called for more balanced trade relations between South Africa and China during a recent engagement with Chinese officials. While acknowledging the strong economic ties between the two nations, Ramaphosa emphasized the need for a trade framework that benefits both countries more equally.

 

Currently, China is South Africa’s largest trading partner, with significant imports of raw materials such as minerals from South Africa, while South Africa imports manufactured goods from China. However, Ramaphosa stressed that the trade imbalance needs to be addressed, urging for increased Chinese investment in South Africa’s industrial and manufacturing sectors to boost local production and job creation.

 

He also highlighted the potential for South African businesses to gain greater access to the Chinese market, particularly in agriculture, technology, and other high-value sectors. Ramaphosa’s call for balanced trade aims to ensure that the economic relationship becomes more sustainable and mutually beneficial, particularly as South Africa seeks to drive its economic recovery post-pandemic.

 

The president’s comments come as the two countries continue to strengthen their ties through initiatives such as the BRICS partnership, with both nations committed to deepening their cooperation in various areas of mutual interest.