South Africa : South Africa looks to China for infrastructure lift
on 2010/8/25 10:46:04
South Africa

20100824
reuters

BEIJING (Reuters) - South African President Jacob Zuma on Tuesday urged China to invest more in infrastructure and manufacturing in his country, as his government seeks to broaden South Africa's economic appeal beyond mines and resources.

South Africa is looking for expanded trade and investment to meet its development needs by improving roads, communications and power and by generating more manufacturing jobs, Zuma told a forum of business executives from China and South Africa.

"China is indeed a key strategic partner for South Africa, and South Africa is open for business in a big way," he said, on the first full day of a three-day trip to China.

"We envisage meaningful future cooperation in infrastructure, the benefaction of minerals, engineering, energy, information and communications technology and electronics. There are also opportunities to be explored in manufacturing."

The South African leader's comments underscored the attractiveness of China for African countries, while hinting at the frustrations of African governments and companies that want to see more Chinese investment and orders spreading beyond mines and resources.

For Beijing, Zuma's visit is 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.

Zuma was accompanied by a delegation of more than 370 business representatives -- the biggest ever for a South African leader's visit abroad, said officials.

Chinese and South African executives signed a dozen deals and memorandums of understanding about investments in energy, power transmission and railways.

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