South Africa’s bilateral trade with China saw a 32-percent increase in 2013 overthe previous year, Trade and Industry Minister Rob Davies said on Wednesday.
Two-way trade between the two countries increased from 205 billion rand ($19.2 billion) in 2012to 270 billion rand ($25 billion) at the end of 2013, Davies said in a written reply to aparliamentary question.There is indeed scope to expand South Africa’s exports to China in value-added manufacturedproducts, particularly as the Chinese economy continued to register strong growth rates, saidDavies. Chinese investments in South Africa, meanwhile, continued to grow, Davies said.
Between January 2003 and January (this year), a total of 38 FDI (foreign direct investment)projects were recorded. These projects represent a total capital investment of 13.33 billion rand(about $1.24), which is an average investment of 350.48 million rand ($33 million dollars) perproject. “During the period, a total of 10,992 jobs were created,” he said.
These investments were spread across the metals; car; communications; financial services; foodand tobacco; chemicals; industrial machinery; construction; engines and turbines; andtransportation sectors, according to Davies.