The deal was signed by South Africa’s trade minister Parks Tau, who is leading a South African delegation to the Joint Economic and Trade Commission meeting in Beijing, and Chinese Minister of Commerce Wang Wentao.
South Africa’s trade minister Parks Tau and Chinese Minister of Commerce Wang Wentao today signed the China-Africa Economic Partnership Agreement in Beijing.
The agreement is a step towards securing duty-free access to the Chinese market for South African exports, Tau’s office said.
The agreement is expected to be followed by negotiations on an Early Harvest Agreement by the end of March this year.
The agreement is a step towards securing duty-free access to the Chinese market for South African exports, Tau’s office said in a statement.
The agreement is expected to be followed by negotiations on an Early Harvest Agreement by the end of March this year that would unlock duty-free access for South African exports and further enhance Chinese investment into South Africa, according to media reports from the African country.
The framework agreement covers cooperation in trade, investment, new energy and multilateral engagement, and aims to provide a stable and predictable environment for economic cooperation, while remaining consistent with World Trade Organization principles and the development objectives of both countries, South Africa’s Department of Trade, Industry and Competition said.
Both sides have committed to expanding bilateral trade, including promoting the export of South African agricultural products and high-value manufactured goods to China.
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