South Africa : South Africa's Zuma looks to China to boost trade
on 2010/8/23 10:44:15
South Africa

20100822
reuters

BEIJING (Reuters) - South African President Jacob Zuma, struggling with sluggish growth and worker discontent at home, seeks to boost trade on Monday on a trip to China, the last of the four "BRIC" economies he has visited in little over a year since taking office..

South Africa aims to tap trade and investment in "BRIC" economies Brazil, Russia, India and China to make up for the downturn in traditional markets in weakly recovering Europe.

"There is a national consensus in South Africa that wants the country to be part of the BRICs, and this visit to China is part of achieving that goal," said Xu Weizhong, an Africa expert at the China Institute of Contemporary International Relations.

"South Africa also wants to be the bridge between Africa and China," he added.

For Beijing, the visit by Zuma will be an opportunity to consolidate ties with African countries, where China is increasingly turning for resources, markets and diplomatic support.

Late last year, Chinese Premier Wen Jiabao offered Africa $10 billion in concessional loans over three years.

Yet with GDP growth forecast at 2.3 percent this year, South Africa stacks up unfavourably against China and India, and Zuma will be looking to narrow his country's trade deficit with Beijing.

"South Africa wants Chinese investment, but at the same time is worried about the competition this will bring. South Africa is not well prepared for that," said Xu, the Chinese expert.

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