Region:
BRICS
Category:
Economy

Significant increase in trade between South Africa and China

Region:
BRICS
Category:
Economy
Publication date:
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At the same time there were Chinese investments aimed at the areas of metals, cars, communications, financial services, food and snuff, chemicals, industrial machinery, construction, engines and turbines, and transport sectors

South Africa's bilateral trade with China last year recorded an increase of 32 percent compared with the previous year, the Minister of Trade and Industry of South Africa, Rob Davies reported to parliament.

Bilateral trade increased from 19,200 million in 2012 to 25,000 million in late 2013, Davies said.

There is a great scope for expanding exports from South Africa to China in manufactured value-added products, particularly because China's economy continues to show strong growth rates, Davies said.

Moreover, Chinese investment in South Africa continue growing, Davies said.

Between January 2003 and January this year, a total of 38 projects of foreign direct investment (FDI) were recorded. These projects represent a total investment capital of 1,240 million dollars, which is an average investment of $ 33 million per project.

"During the period a total of 10,992 jobs were created," said the minister.

These investments were aimed at the areas of metals, cars, communications, financial services, food and snuff, chemicals, industrial machinery, construction, engines and turbines, and transport sectors, Davies said.

traslation: Belén Zapata