South Africa Eyes Enhanced Trade Ties Amid Global Challenges

South Africa's trade minister emphasizes strengthening trade within Africa and with China, amidst complicated global trade conditions. With looming US tariffs and global supply chain impacts, Africa seeks to leverage collective strength through AfCFTA and capitalize on untapped mineral and industrial capacities.

South Africa is intensifying its efforts to strengthen trade and investment relationships within the continent and with China, according to Trade Minister Parks Tau. These moves come amid a globally turbulent trade environment.

Tau, after participating in the FT Africa summit in London, highlighted the complexities introduced by ongoing trade tensions, such as the tariffs imposed between the U.S. and China and the carbon import taxes in Europe. He noted the implications for South Africa and the opportunity present in developing trade within Africa itself.

The African Continental Free Trade Area (AfCFTA) is seen as a strategic avenue for boosting integration and influence on the world stage, particularly in light of potential new global trade conflicts. Tau pointed out the importance of harnessing Africa's mineral wealth not just for exports but also for value creation within the continent.

(With inputs from agencies.)