SA, China relations mutually beneficial
Fin24 - Oct 26th 2012, 07:39
Johannesburg - Relations between South Africa and China are of mutual economic benefit, trade and industry director general Lionel October said on Thursday.
"The current position is of a win-win economic benefit.... This will further deepen relations between the two countries," October told an investment seminar in Shanghai, China, according to a statement issued by his department.
He said China's investment in Africa had "significantly" grown.
"In South Africa alone, Chinese manufacturer First Automobile Works has invested $100m [about R870.5m] to build a vehicle assembly plant in Coega.
"So far, the project has produced 1000 jobs, with some of the vehicles destined... for other African countries."
A memorandum of understanding signed this week between the Beijing International Brand Management Centre and Trade and Investment SA, would help South African enterprises gain access to the Chinese market, October said.
At least 68 South African companies from different industries were represented at exhibitions at the seminar.
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