South Africa and China sign trade cooperation agreements

South Africa and China sign trade cooperation agreements
01 Jul 2019

Ninety-three economic and trade cooperation agreements between South African and Chinese entrepreneurs have been signed.

In a statement announcing the signing, the trade and industry department described it as a deepening of the economic relationship between South Africa and China.

According to the department, the deals are worth in excess of R27 billion.

The trade and industry minister, Ebrahim Patel, emphasized that the signing of the agreements will “create jobs for young people, deepen South Africa’s industrial footprint and grow the country’s Gross Domestic Product”.

The minister called for an increase in the export of value-added products to China in line with the 2010 Comprehensive Strategic Partnership Agreement.

Meanwhile, in another statement, the department indicated that the report flowing from the recent public consultation session on the proposed Bojanala Special Economic Zone held near Rustenburg will be drawn up taking all inputs into consideration.

The report will be submitted to the trade and industry minister and cabinet for final determination on the designation of the proposed SEZ.

According to the department, members of the community that attended the session expressed “overwhelming support” for the proposed designation.

The department called for comment on the intention to designate the Bojanala SEZ in May 2019.

The call was made in terms of the Special Economic Zones Act.

The proposed SEZ is located in Mogwase, in the Moses Kotane Local Municipality, Bojanala District, North West province.

It consists of an industrial park, a fully serviced land with bulk infrastructure and a greenfield site.

The SEZ is also known as the Platinum Valley SEZ and focuses on the mineral beneficiation of platinum group metals.

See also: Special Economic Zones – An efficient instrument to increase industrialisation

(This article is provided for informational purposes only and not for the purpose of providing legal advice. For more information on the topic, please contact the author/s or the relevant provider.)
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