S. Africa wants to deepen ties
By Alexa Olesen |
August 25, 2010, Wednesday
|
Print Edition
Print Edition
SOUTH Africa wants to broaden the relationship with its biggest trade partner China from exporting resources to teaming up in infrastructure and green industries, the South African president and trade minister said yesterday.
"China indeed is a key strategic partner for South Africa, and South Africa is open for business in a big way," President Jacob Zuma told a China-South African business forum in Beijing during his first trip to China since taking office.
Zuma is accompanied by 13 Cabinet ministers and a delegation of 370 business people, the largest such group to travel with a South African president.
South African Trade Minister Rob Davies said China became South African's largest trade partner in 2008.
He said South African exports to China grew in 2009 despite the world economic problems. Davies said South Africa is eager to see other types of commercial ties develop, including investment in industries that develop infrastructure and cooperation on solar water heaters and wind turbines, two areas where China has strong expertise.
China and South Africa yesterday signed 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.
One of the agreements was for South Africa's largest private health insurer Discovery to buy 20 percent of Ping An Health Insurance Co to jointly develop China's nascent health insurance market.
Ping An Health Insurance Chairman and CEO Lu Min said that the deal was worth 190 million (US$28 million) to 200 million yuan.
"China indeed is a key strategic partner for South Africa, and South Africa is open for business in a big way," President Jacob Zuma told a China-South African business forum in Beijing during his first trip to China since taking office.
Zuma is accompanied by 13 Cabinet ministers and a delegation of 370 business people, the largest such group to travel with a South African president.
South African Trade Minister Rob Davies said China became South African's largest trade partner in 2008.
He said South African exports to China grew in 2009 despite the world economic problems. Davies said South Africa is eager to see other types of commercial ties develop, including investment in industries that develop infrastructure and cooperation on solar water heaters and wind turbines, two areas where China has strong expertise.
China and South Africa yesterday signed 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.
One of the agreements was for South Africa's largest private health insurer Discovery to buy 20 percent of Ping An Health Insurance Co to jointly develop China's nascent health insurance market.
Ping An Health Insurance Chairman and CEO Lu Min said that the deal was worth 190 million (US$28 million) to 200 million yuan.
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