President Cyril Ramaphosa delivers a compelling speech at the South Africa-China Business Forum, outlining a shared vision for sustainable investment and green energy initiatives. Image: Shared via X @Presidencyza
President Cyril Ramaphosa addressed the 2024 South Africa-China Business Forum on the sidelines of the state visit and the Summit on China-Africa Cooperation in Beijing, served as a pivotal platform for fostering deeper engagements aimed at enhancing bilateral trade, which has seen a significant increase since 2019.
He highlighted the burgeoning trade and investment relationship between South Africa and China, marking a new chapter in the economic partnership of the two nations. The forum, coinciding with the state visit and the Summit on China-Africa Cooperation, served as a strategic platform for enhancing bilateral engagements.
Underlining the forum’s importance, President Ramaphosa highlighted China’s status as South Africa’s largest trading partner, with bilateral trade swelling by a third since 2019. The president’s investment drive, initiated in 2018, has seen Chinese companies commit over R18 billion across various sectors, signaling robust confidence in South Africa’s economic landscape.
The president expressed gratitude for China’s unwavering support, which has been instrumental in the recent surge of Chinese investments, particularly in the expansion of operations within the last six weeks. This influx of capital is set to revolutionize South Africa’s energy sector, steering it towards a low-carbon, climate-resilient trajectory.
With a keen focus on renewables and green hydrogen, South Africa is actively courting investments to transform its energy sector. China’s expertise in innovative renewable energy solutions positions it as a pivotal ally in this green transition. The South Africa-China Business Forum marks a milestone in the two countries’ commitment to deepening economic ties and fostering sustainable development.
As both nations look to the future, the synergy of their partnership promises to yield substantial dividends, reinforcing their roles as key players in the global economy.
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