The Coega Development Corporation has welcomed the signing of 87 cooperation agreements between South Africa and China.
The trade agreements were concluded in Cape Town on Friday and flow from consensuses reached by President Cyril Ramaphosa and Chinese President Xi Jinping during the 2018 Forum on China-Africa Cooperation Summit in Beijing.
According to the CDC's head of marketing, Dr Ayanda Vilakazi, China remains one of South Africa's strongest and strategic trade, economic and investment partners.
“In short, these cooperation agreements will solidify and deepen trade and economic relations between our two countries,” he said.
Chinese auto companies, BAIC (R11bn) and FAW (R600m), have big investments in the Coega IDZ.
“The single largest automotive investment in Africa in the last 40 years is by Global Fortune 500 automotive manufacturer three years ago in the Coega Special Economic Zone with the BAIC SA project,” said Vilikazi.
