Business / Economy

S. Africa, China to build industrial park to boost jewelry trade

(Xinhua) Updated: 2016-05-14 11:27

JOHANNESBURG - South Africa's Gauteng province on Friday signed a Memorandum of Understanding (MOU) with China's Houjie of Guangdong province to establish an industrial park in China to promote trade between the two countries.

The MOU was signed in Johannesburg during the China (Houjie) - South Africa Gold and Jewelry Industry Investment and Promotion Conference.

Jiang Yajun, town mayor of Houjie, and Uhuru Moiloa, Deputy Speaker of the Gauteng legislature, inked the MOU.

Jiang said South Africa is a big market for jewelry industry in China.

"When the industrial park is completed, it will be beneficial to both sides. It would be a platform for the South African jewelry industry to enter the Chinese market," Jiang said, adding that there is great potential for business to thrive between the two countries.

Moiloa told the gathering that he visited Houjie last October and was impressed with the Chinese processing of minerals.

"We welcome Chinese partnership and wish to secure part of the Chinese market. I encourage South Africans to interact with the Chinese to propel the interest of our people. We want our youths to go for training in China for a year and return to replicate what they lean in the country," said Moiloa.

Moiloa stated that South Africa has a deficiency of skills in the processing of the minerals. He hoped that the initiative would greatly assist South Africa's economy and mutually benefit both countries.

The 33,000-square-meter industrial park, situated in Houjie, will comprise of a South Africa jewelry mall, South Africa commodity display center, and a jewelry institute.

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