JOHANNESBURG, April 1 (Xinhua) -- South Africa welcomes investment pledges from Chinese firms, Minister of Trade, Industry and Competition Parks Tau has said.
Responding to the media during the sixth South African Investment Conference (SAIC) on Tuesday at the Sandton Convention Center in Johannesburg, Tau said the country anticipates "stronger investment ties with China."
Chinese investment will support the country's industrialization drive and contribute to economic development, he added.
The minister said South Africa has been engaging with China to finalize the early harvest arrangements under the Framework Agreement on Economic Partnership for Shared Development as soon as possible.
He also hailed China's zero-tariff treatment for 53 African countries, effective May 1, which grants South African products duty-free and quota-free access to the Chinese market, as "a great opportunity" for the country.
Since its launch in 2018, SAIC has served as a key platform for the South African government to attract both domestic and foreign investment, promote industrial development and support economic growth.
South African President Cyril Ramaphosa said at the event that the conference provides a platform to showcase the country's investment potential and connect investors with concrete opportunities.
This year's edition brought together more than 1,000 delegates from over 50 countries and regions to explore investment opportunities and deepen cooperation.
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