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S. Africa should focus more on trade with China: expert

Xinhua, October 1, 2015 Adjust font size:

A South African expert said on Wednesday that the country should focus more on China for trade since China has the potential to offer more benefit than other BRICS members

Addressing a seminar organized by Brand South Africa in Johannesburg, Prof. Garth Shelton, head of the faculty of International Relations at the University of Witwatersrand, said that while South Africa should take opportunities from other BRICS countries, its main focus should be on China because this could bring more benefits.

"South Africa should focus more on trade with China as the country has enormous opportunities than others. It is the fastest growing economy in the BRICS group. South Africa should interrogate how to attract more visitors from China," Shelton said.

Shelton stated that despite the slowdown in the Chinese economy, it is predicted that the Asian giant has the potential to double the economic growth in the next 10 years.

According to IHS Inc., a leading global source of critical information and insight,the Chinese consumer spending is forecast to grow at an annual average rate of 7.7 percent per year in real terms over the next decade.

Shelton said, "When the population grows, especially the middle class, they need to spend more. South Africa has to find a way to attract tourists from China. China is expected to send 500 million tourists abroad in the next five years, it is also expected to buy 10 trillion U.S. dollars worth of goods from other countries, and invest 500 billion dollars abroad."

One of the ways to attract Chinese investors is to ask Chinese companies operating in South Africa about the impediments they face in the country and improve on that, said Shelton.

He urged South Africa to remove hurdles to ensure an increase in the number of tourists and make it easier for doing business.

Shelton stressed the need for South Africa to have a website in Mandarin to attract more Chinese investors.

"I have been to China several times and some of my friends say they have many questions about investing in South Africa. Mozambique has a website in Mandarin so it's likely we are losing some of the investors to Mozambique," he said. Enditem