South Africa and China: co-building the Belt and Road

This article discusses South Africa and China’s commitment to jointly build the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

The Silk Road Economic Belt and the 21st Century Maritime Silk Road, which is taking place in at least 64 countries across Asia, the Middle East, Europe and Africa, was proclaimed by Chinese President Xi as the “Project of the Century”. The Belt and Road Initiative is refreshing in the sense that it is a bold move towards globalization and an attempt by China to benefit not only itself, but also its neighbours and beyond.

EXTENSIVE AREAS FOR CO-OPERATION

Financing opportunities and major projects in the power and infrastructure sector, which include technology, telecommunications, manufacturing, consumer goods and retail, will all become the main focus and will play a major role in the Belt and Road Initiative in the coming years. The initiative also aims to promote expansion of mutual investment areas, to deepen cooperation in agriculture, forestry, fisheries, machinery manufacturing and farm produce processing, as well as to promote co-operation in the marine product, deep-sea fishing, ocean engineering technology, environmental protection and marine tourism industries. In turn, South Africa provides Chinese enterprises investment opportunities in aquaculture, agro-industry, ocean economic, renewable energy, sea food and marine tourism, which are in line with the Belt and Road Initiative.