South Africa Supports China'S Increasing Investment In Textile And Other Industries In Africa.
The Financial Times reported that
South Africa
President Zuma said on Tuesday that China has maintained a very friendly relationship with the entire African continent. South Africa supports China's increased investment in Africa and hopes to reduce South Africa's trade deficit with China.
Zuma said in a meeting with Chinese President Hu Jintao on the afternoon of 24, the development potential of South China relations is huge.
China is not only South Africa's largest trading partner, but also one of South Africa's most important investors.
South Africa is willing to strengthen cooperation with China to promote the development of Sino African relations.
Rob Davis, Minister of trade and industry of South Africa (Rob Dabies), said China's growing interest in Africa will bring great benefits.
He said that China's rapid expansion in Africa would only be a good thing because it means competition in Africa.
Resources
In terms of influence, competition between developed and developing countries has intensified.
"We don't have to sign our documents again; we have alternative options now, which is good for us," Davies said in an interview.
Davies said that the appropriate response of Western critics who claimed that China is seeking the power of Neo colonialism is "mutual".
Zuma, who attended the "China South Africa high-end business forum" yesterday morning, said he hoped China would increase its investment in the country, especially in the field of infrastructure construction such as electricity, pportation, water conservancy and communications, and gradually expand to manufacturing, agricultural products (processing, textile, clean energy and other industries).
Thandi Tobias- Pokolo, Vice Minister of South Africa's Ministry of trade and industry, said yesterday that in the first half of this year, South Africa's investment in China totaled 580 million US dollars and China's investment in South Africa amounted to US $960 million.
Last year, $6 billion 570 million of South Africa's exports to China were almost entirely natural resources, while the country's imports from China amounted to $9 billion 450 million worth of manufactured goods.
President Zuma appealed to China to increase its investment in South Africa while seeking to reduce its trade deficit with China.
Rob Davis stressed the need for further cooperation between the two sides to further promote South Africa.
high added value
Export of products.
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