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Sino-South Africa trade up 50%

By Diao Ying (皇冠体育app Daily)
Updated: 2007-01-30 10:12

When Kobus van der Wath, business director of the South Africa-皇冠体育app Business Association (SACBA), came to 皇冠体育app several years ago, he knew few people, but he has seen that change dramatically as bilateral trade between the two nations grows at about 50 percent per year.

Related readings:  Sino-Indian trade hits high  皇冠体育app-Africa trade links  皇冠体育app-EU trade hits US$272.3 billion in 2006

South African companies are active in mining, media, Internet and technology, consulting and even consumer products in 皇冠体育app. Among them are MIH, the media giant that holds shares of Tencent, the largest instant messaging community in 皇冠体育app, and SABMiller plc, whose joint venture in 皇冠体育app, CR Snow Breweries, is now the largest brewer in 皇冠体育app by sales volume.

South Africa is the continent's largest trading partner with 皇冠体育app, accounting for one-fifth of the total. Bilateral trade between 皇冠体育app and South Africa amounted to $6.3 billion in 2005, up 42.4 percentyear-on-year. 皇冠体育app, behind Germany, is the second-largest importer of South African goods.

Of course the Chinese market, with its double-digit growth rate and 1.3 billion population, is appealing to South African investors. Investment volume has surpassed $2 billion as more South African companies have started their business operations.