Friday, 23 January 2015

South Africa expects China to help it move up the value chain

South Africa is looking to China for help to move up the value chain and quicken its industrialization, said South African minister of trade and industry, Rob Davies. Speaking at the South Africa-China Business Forum in Beijing, he explained, “South Africa's exports to China are dominated by primary mineral commodities, and those are very much dependent on the vagaries of world prices. Those commodities are also low on the value chain. Our ambition in South Africa and the African continent is to move up the value chain and to focus on industrialization, and that ambition is understood and shared by China."  Davies, who was accompanying South African President Jacob Zuma, added that China and South Africa are experiencing a higher level of consensus about the joint direction they need to for economic cooperation.