BEIJING, (Reuters) – South African President Cyril Ramaphosa told China’s Xi Jinping today he wanted to narrow his country’s trade deficit with Beijing, days before the Chinese leader is due to urge a summit of 50 African nations to buy more Chinese goods.
Ramaphosa’s remarks point to the challenge Xi may have in convincing African leaders gathered in Beijing to absorb more of the production powerhouse’s wares, particularly after China did not meet a pledge from the last Forum on China-Africa Cooperation Summit in 2021 to buy $300 billion of African goods.
With Western curbs on Chinese exports such as solar panels and electric vehicles looming, finding buyers for items that the U.S. and European Union maintain Beijing has overcapacity in is a top priority for the Chinese leader.
“As South Africa, we would like to narrow the trade deficit and address the structure of our trade,” Ramaphosa told his host during talks at Beijing’s Great Hall of the People, a statement from his presidential office said.
“We urge for more sustainable manufacturing and job-creating investments,” Ramaphosa added ahead of the ninth Forum on China-Africa Co-operation Summit.
South Africa which co-founded the BRICS group of developing economies along with Brazil, Russia, India, and China is also seeking Beijing’s backing to help it move on from over a decade of economic stagnation by building up its infrastructure.
Signalling that China would be willing to help South Africa put an end to the persistent powercuts, poor port processing and sub-par railways that have throttled economic growth, Xi proposed elevating bilateral ties to the level of a “new era of all-round strategic partnership,” Chinese state media reported.
