Economic cooperation and trade between China and South Africa which have developed fast, have potential for growth, says Trade and Industry Minister, Dr Rob Davies.<\/p>\n
\u201cEconomic cooperation and trade between South Africa and China have developed fast and has great potential,\u201d said the Minister on Tuesday.<\/p>\n
Read: Siding with China is bad news for SA: report<\/a><\/strong><\/p>\n Speaking at the National Day celebrations of the People\u2019s Republic of China, Minister Davies said that there are exciting opportunities for China to increase its investment in South Africa.<\/p>\n \u201cWe will encourage China to support South Africa\u2019s industrial agenda and explore investment in the development of Science and Technology and Industrial Parks, as well as in key areas such as marine transport and manufacturing (MTM), white goods, offshore oil and gas exploration (O&G), aquaculture, agro-processing, mining and mineral beneficiation, renewable energy, finance and tourism,\u201d he explained.<\/p>\n Minister Davies said that since South Africa and China established diplomatic relations in January 1998, relations between the two countries have achieved a historical pinnacle becoming a \u201ccomprehensive strategic partnership\u201d in 2010.<\/p>\n \u201cSince the establishment of bilateral ties, cooperation in the political, economic, trade and other fields has continued to grow, thus bringing our relations to a new high.\u201d<\/p>\n In July, Deputy President Cyril Ramaphosa paid a working visit to China which included a review of progress made with regard to the implementation of the \u201cFive-to-Ten Year Framework on Strategic Cooperation between South Africa and China.<\/p>\n \u201cWe stand to learn a great deal from China\u2019s re-industrialisation process and as such, Deputy President Ramaphosa\u2019s visit also focused on how South Africa\u2019s State-owned Enterprises could learn from the Chinese experience.<\/p>\n \u201cFurthermore, President Zuma\u2019s visit to China earlier this month to attend the celebrations that marked the 70th Anniversary of the Victory of the Chinese Peoples\u2019 War of Resistance and the World Anti-Fascist War. It also allowed him the opportunity to discuss our bilateral relations with President Xi. Both leaders agreed that our relationship is at its best level ever,\u201d explained Minister Davies.<\/p>\n Asian Infrastructure Investment Bank<\/strong><\/p>\n \u201cSouth Africa once again, wishes to reiterate its welcome of the invitation by China to become a founding member of the Asian Infrastructure Investment Bank. We view infrastructure development as a catalyst for sustainable economic development and the improvement of the quality of life of our people in a fundamental way.\u201d<\/p>\n The bank is a proposed international financial institution that is focused on supporting infrastructure construction in the Asia-Pacific region.<\/p>\n Partnership<\/strong><\/p>\n Minister Davies noted that the strategic partnership between South Africa and China is durable and meaningful, and will continue to provide a long-lasting partnership for development and progress.<\/p>\n The real reason why South Africa is partnering with China<\/a><\/strong><\/p>\n Teaching Mandarin in SA schools is political \u2018gat kruiping\u2019<\/a><\/strong><\/p>\nMore on China and South Africa<\/h3>\n