South African businesses urged to embrace opportunities in China

The committee’s chairperson Siphosezwe Masango said the committee concurred with President Jacob Zuma’s view that China’s relations with Africa should be crafted in such a manner that it would benefit ordinary people.

“This investment should be felt by the people through small business enterprises‚ particularly in areas of infrastructure development and manufacturing. Bilateral and multilateral agreements should speak to the development of our country‚ the region and the continent and result in job creation‚” Masango said.

“The Committee welcomes China’s commitment that it will not seek to be big brother but an equal partner‚ and that it is still committed to the Brics Development Bank‚” he added.

SA hosted China’s President Xi Jinping and a Chinese business entourage at the Johannesburg Summit of the Forum on China-Africa Cooperation (Focac). The summit concluded on Saturday with assurances that China will increase trade with Africa and that the strengthened relations will likely result in increased investment .

Masango welcomed the news that 24 agreements worth R94bn in various industries had been entered into between the governments of China and SA.

“Decreased exports of raw materials and an increased export of finished goods is an ideal situation that the country should be looking towards‚” he said.