{"id":779,"date":"2024-09-04T08:56:14","date_gmt":"2024-09-04T06:56:14","guid":{"rendered":"https:\/\/pixleyindependent.co.za\/?p=779"},"modified":"2024-09-04T08:56:14","modified_gmt":"2024-09-04T06:56:14","slug":"president-calls-for-narrowing-of-sa-china-trade-deficit","status":"publish","type":"post","link":"https:\/\/pixleyindependent.co.za\/?p=779","title":{"rendered":"President calls for narrowing of SA, China trade deficit"},"content":{"rendered":"

Beijing, China –<\/strong>\u00a0\u00a0While China is South Africa’s largest trading partner globally, President Cyril Ramaphosa has called for the narrowing of the trade deficit that exists between both countries.<\/p>\n

Delivering opening remarks during the official talks with Chinese President Xi Jinping on Monday in Beijing, President Ramaphosa emphasised the importance of addressing the structure of South Africa\u2019s trade.<\/p>\n

\u201cWe have witnessed an increase in our bilateral trade. However, as South Africa, we would like to narrow the trade deficit and address the structure of our trade,\u201d the President said.<\/p>\n

China is South Africa’s largest trading partner globally, while South Africa is China\u2019s number one trading partner in Africa. Total bilateral trade grew from R614 billion in 2022 to R692 billion in 2023.<\/p>\n

\u201cAs we enter a new phase of our partnership, we should continue to consult closely in pursuit of a just, equitable and prosperous world.<\/p>\n

\u201cI believe that our elevated levels of mutual trust will accommodate each other’s interests, views and concerns \u2013 and deepen our cooperation as we build a shared future,\u201d the President said.<\/p>\n

President Ramaphosa is on a State Visit to the People\u2019s Republic of China where he will also participate at the Forum on China \u2013 Africa Cooperation Summit (FOCAC).<\/p>\n

South Africa and China\u2019s bilateral relations are maintained at the level of a Comprehensive Strategic Partnership (CSP), underpinned by a Ten-Year Strategic Programme of Cooperation (2020 \u2013 2029).<\/p>\n

President Ramaphosa welcomed the proposal to upgrade the Comprehensive Strategic Partnership to an All-Round Strategic Cooperative Partnership in a New Era.<\/p>\n

\u201cThis will elevate our mutually beneficial political and economic ties for the benefit of both our countries and our people.<\/p>\n

\u201cWe were encouraged by the inward procurement mission of Chinese companies last year. We urge for more sustainable manufacturing and job-creating investments,\u201d the President said.<\/p>\n

He said the development cooperation between the two countries continues to grow, covering many areas.<\/p>\n

\u201cOur two countries share many common objectives. Building on the firm foundation of solidarity, we continue to provide support in promoting our interests, those of the African Continent and the Global South.\u201d<\/p>\n

The newly formed Government of National Unity continues to place the achievement of the African Union’s Agenda 2063 and the pursuit of a better Africa and world at the centre of its foreign policy.<\/p>\n

\u201cAs our history demands, South Africa will continue to pursue progressive internationalism. We remain firmly committed to the One China Policy.<\/p>\n

\u201cSouth Africa will use the opportunity of hosting the G20 Summit next year to focus global attention on the developmental challenges confronting Africa and the countries of the Global South,\u201d President Ramaphosa said. \u2013\u00a0SAnews.gov.za\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Beijing, China –\u00a0\u00a0While China is South Africa’s largest trading partner globally, President Cyril Ramaphosa has<\/p>\n","protected":false},"author":2,"featured_media":780,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[19],"tags":[],"class_list":["post-779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-updates-from-china"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t