By Johnathan Paoli
Deputy President Paul Mashatile has celebrated the enduring partnership between China and South Africa, highlighting the contributions of Chinese businesses to the country’s socio-economic development.
Mashatile delivered a keynote address at the launch ceremony of the Corporate Social Responsibility (CSR) Report by Chinese-funded enterprises in South Africa. It was hosted by the South Africa-China Economic and Trade Association (SACETA) in Johannesburg.
“Throughout the years, the bonds between our two nations have deepened, revealing the potential for collaboration… with a mutual goal of promoting inclusive and equitable growth,” he said.
The deputy president praised the golden era of cooperation initiated in 2010, when bilateral relations were elevated to a Comprehensive Strategic Partnership.
This relationship was further strengthened during his 2023 visit to China, which included co-chairing the 8th Bi-National Commission (BNC).
The BNC identified critical areas of collaboration such as minerals, energy, education and technology, while also addressing the need to re-balance trade relations.
South Africa-China relations received another boost in September this year, when President Cyril Ramaphosa made his second State Visit to China, resulting in the upgrade of relations to an All-Round Cooperative Strategic Partnership for the new era.
Key agreements included synergy between China’s Belt and Road Initiative and South Africa’s Economic Reconstruction and Recovery Plan, as well as a commitment to a fair and stable business environment.
Mashatile emphasised the importance of SACETA’s CSR initiatives, which focus on areas such as environmental conservation, community development, education and healthcare.
The report showcased the efforts of over 200 Chinese-funded enterprises in South Africa, highlighting the balance between profitability and social impact.
“As the global economy faces challenges like climate change and social inequality, businesses must embrace their role as agents of positive change,” Mashatile remarked.
He called on Chinese enterprises to invest further in critical sectors such as infrastructure, green energy and artificial intelligence, while South African companies were encouraged to leverage Chinese capital and expertise for global expansion.
Despite the robust relationship, Mashatile acknowledged the need to address imbalances in bilateral trade.
In 2023, South Africa’s exports to China which were largely raw materials, lagged behind its imports of manufactured goods.
Mashatile advocated for broader market access for value-added South African products, streamlined import procedures, and the expansion of export categories such as processed foods.
He also underscored the importance of foreign direct investment from China.
With a stock of $5.84 billion in 2023, FDI has been pivotal in driving job creation and economic growth in South Africa.
Mashatile encouraged SACETA to continue investments in manufacturing, assembly and infrastructure, as well as initiatives to address South Africa’s critical skills shortages in IT, engineering, healthcare and finance.
Looking to the future, Mashatile reaffirmed South Africa’s commitment to fostering partnerships through the African Continental Free Trade Area and leveraging China’s expertise in infrastructure development.
“As we move forward, let us reaffirm our commitment to expanding South African-Chinese trade and investment cooperation. Together, we can build a more successful and sustainable future for our countries,” Mashatile said.
He highlighted the shared vision of building a prosperous and sustainable future, not just for South Africa and China, but for the broader African continent.
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