China celebrates South Africa Week
This is according to the Minister of Agriculture and Land Affairs, Lulama Xingwana, who was speaking in the Guangdong Province capital of Guangzhou on Monday, 7 April 2008.
The minister said the unprecedented series of events has been endorsed at the highest levels of government.
The celebrations will be hosted in China's Capital Hong Kong, Shanghai and Beijing until Saturday.
At the official launch, the minister said: "It bears testimony to the importance that we place on our partnership with China and illustrates the ever-increasing range and depth of political, economic, financial, social, and cultural relations that we enjoy together."
On with the show
The week's events include a fashion and jewellery show, displaying South Africa's cutting-edge design capabilities, wine tasting, cultural performances exhibiting the country's indigenous arts and a food and wine week showcasing its unique indigenous cuisine.
There will be many senior South African officials from sectors such as trade, tourism, education and business visiting China and visa versa.
Exports to China grew from R7.85 million in 1996, to well over R8.5 billion in 2005. Imports for the same period surged from R2.4 million in 1996 to R31.5 billion in 2005.
China's bilateral trade with South Africa grew to over R40 billion in 2005.
South Africa, on the other hand, has the potential to export commodities ranging from mining and mineral related technology, financial services, biotechnology, infrastructure development and construction, to agro-processing and tourism to China.
2010 Shanghai Expo
South Africa also plans to participate in the 2010 Shanghai Expo, which is one of the largest in the world.
South Africa's business entrepreneurs will also have the opportunity to exhibit and participate in the World Expo, giving them access to the world's biggest market.
Chinese investments into South Africa are currently tabled at US$130 million, mostly in a chromium mine, while South Africa's investments in China are totalled at US$400 million.
This includes investments by Anglo American, SAB Miller and a US$120 million investment by property group LRPS.
Cabinet has also identified the clothing and textiles industry, chemical, mineral beneficiation, agro-processing, business process outsourcing, tourism, arts and crafts, automotives aerospace, marine and rail transport industries as priority sectors for investment.
Apart from the potential for trade in commodities and value-added goods, there is also potential for sharing of development initiatives as both countries undergo a blossoming of economies.
Article published courtesy of BuaNews
