The two countries have a mutually beneficial future in mind at the Brics summit
n March 2013, during his inaugural international tour as the leader of China, President Xi Jinping embarked on a journey to Africa.
This occasion marks yet another chapter in Xi’s consistent engagement with South Africa, marking his fourth official visit in just five years. This year, another significant milestone is also being commemorated — the 25th anniversary of China-South Africa diplomatic ties. This robust bilateral trade journey has seen remarkable growth, growing from under R1 billion in 1998 to R544 billion in 2021, amid the challenging backdrop of the Covid-19 pandemic. China’s official data reveals a striking uptick in the first half of the year, with bilateral trade hitting $28.25 billion, marking an 11.7% year-on-year surge.
Chinese Commerce Minister Wang Wentao made a visit to South Africa last week, ahead of the summit. He and his South African counterpart Ebrahim Patel inked a $2 billion deal enabling Chinese firms to procure South African goods. Mining giants Anglo American and Glencore were among the local companies participating.
Amid today’s unprecedented global uncertainties and rapid transformations, analysts anticipate Xi’s visit and the forthcoming South African deliberations will inject renewed dynamism into the Brics machinery. This, in turn, is anticipated to initiate a fresh chapter of collaboration between China, Africa and the broader South-South spectrum, effectively navigating the challenges and opportunities presented by the post-pandemic period.
After just eight years, the NDB is one of the globe’s youngest, yet most influential, multilateral development banks. This ascent epitomises China’s embodiment of equitable cooperation within Brics, effectively bolstering global stability and equilibrium.
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