By Enyichukwu Enemanna
South Africa’s trade minister Parks Tau has headed to China on a visit that will last till Saturday where he is expected to sign the China–Africa Economic Partnership Agreement, which will see South African exports gain duty-free access to the Chinese market, Tau’s office said.
This comes amid a tariff row with the United States, its second-largest bilateral trading partner after China. Pretoria is aiming to boost its exports to shore up revenue base.
Tau’s trip to China “comes at a time when South Africa is pursuing an objective of market diversification and export growth,” the Minister’s office said in a statement on Thursday.
Tau will also meet Chinese companies interested in investing in South Africa on his visit.
U.S. President Donald Trump imposed a 30% tariff on South African exports to the U.S. in August, the highest rate in Sub-Saharan Africa.
This comes a day after Afreximbank announced an $8 billion financing package for South Africa, aiming to support projects in sectors mining, automaking and manufacturing.
