New agreement to facilitate Sino-Africa trade

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South Africa-China Economic and Trade Association (SACETA)
South Africa-China Economic and Trade Association (SACETA)

The South Africa-China Economic and Trade Association (SACETA) and Africa Oil & Power (AOP) on Monday signed an agreement that will introduce Chinese corporations to African projects and firms, SACETA said on Monday.

SACETA said the partnership will see the Chinese build critical new commercial links within the private and public sectors.

“The partnership signed will to some extent help bring more investment to the African energy sector and gradually solve the problem of power shortages on the continent,” Said SACETA chairperson Wenan Wang.

AOP, a leading events organizer in Africa, said they will give exhibition space to Chinese companies at all its 2020 events and set up bilateral meetings between governments and private sector and Chinese enterprises.

“China’s impact on the African energy sector has been tremendous, but there is so much room still to grow in electrification, energy infrastructure building, and project financing. This partnership expands the AOP community with the aim of bringing meaningful investment into African projects,” said AOP acting CEO James Chester.

SACETA has over 160 Chinese companies based in South Africa in the sectors of energy, finance, infrastructure, mining, ICT and among others.

The partnership is expected to promote trade between Chinese and Africans governments and private sectors. Enditem

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