South African business leader Stavros Nicolaou has called for urgent, practical steps to translate long-standing agreements into tangible economic outcomes.
Nicolaou, an executive at Aspen Pharmacare and member of the South African chapter of the BRICS Business Council, spoke at a high-level dialogue on accelerating trade and investment between South Africa and China on March 27, attended by government leaders, business executives, and representatives from the China Council for the Promotion of International Trade.
The event, focused on strengthening bilateral economic ties, comes at what Nicolaou described as a “critical moment for global trade.” He noted that ongoing uncertainty in global supply chains and trade routes is forcing a broader realignment of the global economy. “This moment requires a global economic realignment, shifting value chains, and the deepening of BRICS+ cooperation,” he said during his address.
Nicolaou highlighted the scale and importance of the South Africa–China relationship, pointing out that total trade between the two countries exceeded R661 billion in 2025. China has remained South Africa’s largest trading partner for 15 consecutive years. In addition, accumulated Chinese investment in South Africa has surpassed $25 billion, spanning key sectors such as mining, automotive manufacturing, energy, finance, pharmaceuticals, and logistics.
Despite this strong foundation, Nicolaou cautioned that the structure of trade remains imbalanced. More than 70% of South Africa’s exports to China are still raw or semi-processed materials, underscoring the need for greater diversification. “Sustainable trade is not measured by volumes alone, but by structure, diversification, and long-term competitiveness,” he said.
He identified significant opportunities for South Africa to expand value-added exports, particularly in agro-processing, automotive components, pharmaceuticals, and beneficiated green minerals. Nicolaou also pointed to China’s global leadership in renewable energy, green technology, digital innovation, and advanced logistics as areas ripe for deeper collaboration.
A key concern raised was the limited participation of small and medium-sized enterprises (SMEs) in bilateral trade. Nicolaou said that improving SME access to Chinese markets would be critical to inclusive growth and long-term sustainability.
Reflecting on earlier discussions at the event, Nicolaou outlined four key pillars necessary to strengthen the partnership: industrial collaboration, regulatory cooperation, trade facilitation, and enhanced market intelligence. These, he argued, are essential for creating predictable investment conditions, improving visa processes, harmonising standards, and resolving project bottlenecks.
“We must shift from agreements to execution,” Nicolaou said, adding that while frameworks such as the China-Africa Economic Partnership Agreement (CAEPA) offer substantial benefits, including potential zero-tariff access for South African exports, they must translate into real investment and project delivery.
He made it clear that the private sector is seeking practical outcomes rather than additional policy frameworks. “What business needs are bankable projects, speed of implementation, regulatory certainty, and access to blended finance,” he said.
In closing, Nicolaou urged stakeholders to prioritise delivery over dialogue, adding that the next chapter of South Africa–China relations will not be defined by intent, but by delivery. He said the future of trade will not be decided by those who negotiate the most, but by those who execute the fastest.
