On February 5, the South African Minister of Trade embarked on a visit to China to sign an important agreement.
According to the South African Government News Agency, South African Minister of Trade Pansy Tlakula has already departed for China. The core purpose of his visit is to sign the China-Africa Economic Partnership Agreement (CAEPA), which will allow South African exported goods to gain duty-free access to the Chinese market and attract more investments into South Africa.
Let's first talk about the relationship between China and South Africa. China and South Africa are both members of the BRICS group. During President Ramaphosa's visit to China in September 2024, the relationship between the two countries was officially upgraded to a comprehensive strategic partnership in the new era. As developing countries, they serve as a good model for South-South cooperation. Regarding the trade and economic relations between the two countries, let's look at some data: China has been South Africa's largest trading partner for 15 consecutive years. In 2024, bilateral trade exceeded 60 billion US dollars, accounting for about 20% of South Africa's total foreign trade. In other words, one-fifth of South Africa's foreign trade is driven by cooperation with China.
According to official statements from South Africa, this visit by the Minister of Trade, Pansy Tlakula, to China aims to sign the China-Africa Economic Partnership Agreement (CAEPA) with China. This agreement covers multiple areas such as goods trade, service trade, and investment. The most important provisions include:
1. China implements zero tariffs on over 97% of tariff items for products from African countries.
2. African countries gradually reduce tariffs on certain products from China.
3. Establish an investment protection mechanism to promote the facilitation of two-way investment.
4. Strengthen cooperation in emerging fields such as the digital economy and green development.
In my opinion, the economic and trade relationship between China and South Africa is close, and the two sides have highly complementary needs. At present, South Africa's signing of the CAEPA with China has at least the following three significances:
Firstly, for South Africa, its core demand is market diversification, export growth, and attracting investment. After signing the CAEPA with China, it not only helps South African agricultural and mineral products to enter the Chinese market duty-free, but also achieves export growth in South Africa and attracts Chinese investments in infrastructure, new energy, and manufacturing sectors. That is to say, cooperating with China can simultaneously meet the three demands mentioned above for South Africa.
Secondly, for China, signing the CAEPA with South Africa can not only enrich the variety and competition of domestic agricultural products and minerals, but also increase investments in various fields in South Africa based on the Belt and Road Initiative, injecting new vitality and growth points into bilateral trade between the two countries.
Thirdly, from the perspective of Sino-African cooperation and South-South cooperation, after China and South Africa sign the CAEPA, it can create a new model for "South-South Cooperation," enhancing the economic and trade voice of developing countries.
In summary, the signing of the CAEPA between China and South Africa and the strengthening of cooperation in all fields, which are carried out in the spirit of "mutual respect and win-win cooperation," conform to the interests of the people of the two countries. At the same time, it also has positive significance in maintaining multilateralism and free trade.
Original article: toutiao.com/article/1856293800797192/
Statement: This article represents the personal views of the author.