Russian forces make progress amid record-high losses across Ukraine's Donetsk region    Israel confirms it killed Hamas leader Haniyeh in Tehran    Kosovo bars Serb party from vote over anti-independence stances    Greenland again tells Trump it is not for sale    Interior Ministry makes great strides in enhancing national security landscape    MWL Chief meets Pope Francis in Vatican University of Bologna confers on Sheikh Al-Issa Honorary Fellowship in Law    Abdullah Kamel unveils plans to launch halal certificate similar to ISO Value of global halal market exceeds $2 trillion    Emir of Madinah launches first phase of Madinah Gate project worth SR600 million    Saudi Arabia starts Gulf Cup 26 campaign with a disappointing loss to Bahrain    Gulf Cup: Hervé Renard calls for Saudi players to show pride    Oman optimistic about Al-Yahyaei's return for crucial Gulf Cup clash with Qatar    Qatar coach Garcia promises surprises as they seek first Gulf Cup 26 win    Do cigarettes belong in a museum    Saudi deputy FM meets Sudan's Sovereign Council chief in Port Sudan    Kuwait, India to elevate bilateral relations to strategic partnership Sheikh Mishal awards Mubarak Al-Kabir Medal to Modi    Environment minister inaugurates Yanbu Grain Handling Terminal    Marianne Jean-Baptiste on Oscars buzz for playing 'difficult' woman    PDC collaboration with MEDLOG Saudi to introduce new cold storage facilities in King Abdullah Port Investment of SR300 million to enhance logistics capabilities in Saudi Arabia    My kids saw my pain on set, says Angelina Jolie    Legendary Indian tabla player Zakir Hussain dies at 73    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Zuma in China to boost trade
Published in The Saudi Gazette on 25 - 08 - 2010

South Africa wants to broaden the relationship with its biggest trade partner China from resource exports to partnership in infrastructure and green industries, the South African president and trade minister said Tuesday.
“China indeed is a key strategic partner for South Africa, and South Africa is open for business in a big way,” President Jacob Zuma Zuma told a China-South African business forum during his first trip to China since taking office.
As a sign of Zuma's seriousness, he was accompanied by 13 Cabinet ministers and a delegation of 370 business people, the largest such group to travel with a South African president. Zuma was to hold talks with President Hu Jintao later Tuesday.
South African Trade Minister Rob Davies said China became South African's largest trade partner in 2008, and strong demand from China for its resources meant South African exports grew in 2009 despite the world economic problems.
Davies said South Africa is eager to see other parts of their commercial ties developed in addition to natural resources, including investment in industries that develop infrastructure, and cooperation on solar water heaters and wind turbines, two areas where China has strong expertise.
Zuma and Davies witnessed the signing of 12 agreements, ranging from memorandums of understanding to possibly develop power grids to memorandums of cooperation to set up a cement plant in South Africa.
Experts said Zuma was expected to push for South Africa's membership in a grouping of emerging markets made up of Brazil, Russia, India and China.
The so-called BRIC nations work to boost trade among themselves and have called for a bigger role in major global financial decisions, primarily within institutions such as the International Monetary Fund. Zuma has already visited Brazil, Russia and India to lobby for membership, which could help raise South Africa's political and economic clout.
“South Africa wants to become a member of the BRIC countries and hopes that China will offer support and coordination in this respect,” said Xu Weizhong, professor and deputy head of the Institute of West Asian and African Studies at the China Institute of Contemporary International Relations.
Trade ties between Beijing and Johannesburg have grown rapidly in recent years, with China last year overtaking the United States as South Africa's largest export destination.
South Africa also imports more from China than it does any other country, and last year recorded a $2.7 billion trade deficit with the Asian manufacturing giant - a gap Zuma will be looking to narrow.
“Trade statistics with China continue to reflect the potential that still exists for expanding the commercial relationship,” South Africa's Foreign Ministry said in a statement ahead of Zuma's arrival in Beijing.
The ministry said the two sides would sign a comprehensive economic agreement during Zuma's visit as well as four deals related to mineral resource cooperation, transportation, railways and environment management.
South Africa provides iron ore and other vital resources for China but also offers a strategic link to the rest of Africa, where China has been investing heavily in recent years.
Trade between China and Africa increased 10 fold since 2001, passing the $100 billion-mark in 2008. Estimates of Chinese investment in Africa range upward from $6 billion as China tries to lock up oil, gas, and other key resources for its resource-hungry economy.
“China is a major player in Africa, and Africa is South Africa's economic backyard,” said Francis Kornegay, a research associate with the Institute for Global Dialogue in Midrand, South Africa. “South Africa is pretty much a gateway hub for China's activities in other parts of the continent.”


Clic here to read the story from its source.