President Cyril Ramaphosa has urged a meeting of the Forum on China-Africa Cooperation (FOCAC)‚ currently under way in Beijing‚ to find ways of resolving the trade imbalance between China and the continent.
FOCAC meets every three years to assess trade relations between China and 52 African countries. This year’s meeting is being co-chaired by Ramaphosa and his Chinese counterpart‚ Xi Jinping.
Ramaphosa said while China was making massive investments across the African continent‚ a mechanism needed to be found to address the trade deficit between the two.
Last year‚ trade between China and African countries increased by about 14 percent to $170-billion‚ with the Chinese getting the bigger slice of the cake.
"There's been rapid growth‚ with Africa now being China's largest trading partner‚” said Ramaphosa.