JOHANNESBURG, Feb. 23 (Xinhua) -- South African experts have welcomed China's decision to grant duty-free access across 100 percent of tariff lines for South African exports, describing the move as significant to the country's trade structure and industrial development.
Signed during a visit to China by South African Minister of Trade, Industry, and Competition Parks Tau in early February, the Framework Agreement on Economic Partnership lays the foundation for an "Early Harvest Agreement" expected by the end of March, which is set to grant duty-free access for South African exports to the Chinese market and create more favorable conditions for increased Chinese investment in South Africa.
Economists and trade analysts said the comprehensive zero-tariff treatment sends a strong signal of market openness and could inject fresh momentum into bilateral economic ties.
"The deal opens the door for South Africa to pursue a different development trajectory by accessing manufacturing and services technology that it currently does not have," Tafadzwa Ruzive, an economist and analyst from the University of the Free State, told Xinhua in a telephone interview.
The expert noted that South Africa has secured expanded market access, particularly for agricultural and mining products, while China has shown strong interest in investing in South Africa's manufacturing sector.
Exporting raw materials while attracting advanced technology and industrial capacity could provide South Africa with an alternative growth path, said Ruzive, adding that it may also embed the country more firmly in Chinese value chains, and vice versa, thereby reinforcing bilateral economic ties.
Sizo Nkala, a researcher at the University of Johannesburg's Centre for Africa-China Studies, described the agreement as "timely," saying it provides Pretoria, South Africa's administrative capital, with an opportunity to cushion external shocks and diversify its trade partnerships.
"It underscores China's commitment to a rules-based and open global economic system as espoused in its 15th Five-Year Plan," said Nkala, noting that the framework represents a progressive step in strengthening South-South cooperation.
Balisa Finca, an independent economic analyst, shared a similar view.
The analyst, who once served as a special advisor to the Member of the Mayoral Committee for Economic Development in Johannesburg, told Xinhua in a written interview that if implemented effectively, it can shift the country from a primary commodity exporter to a producer of higher value-added goods. ■