China and South Africa have maintained strong trade and political ties for decades [Xinhua][Xinhua]
Chinese President Xi Jinping and his South African counterpart Jacob Zuma met Saturday on the sidelines of the 8th BRICS Summit in Goa, India and pledged to work within the bloc to boost bilateral cooperation between their two countries.
Xi said he was happy with the pace of the comprehensive strategic partnership between the two countries but also added that he would work with Zuma to enhance their relationship.
The talks between the two leaders come at a time when both their economies are challenged by weaker than normal performance and a global slowdown.
China’s economy, for example, has slowed to its weakest pace in a quarter of a century as it reforms and goes through a corrective stage. Once double digits, its GDP growth now hovers just under 7 per cent.
Meanwhile, South Africa is suffering from the slowdown in international commodity trading and now is at risk of its credit being downgraded to junk status this year.
South Africa, like other countries on the continent, is increasingly looking to China for a growth in investments.
Last year, South Africa was labeled a China Strategic Comprehensive Partner; China is South Africa’s largest trading partner.
In early 2016, China committed $6.3 billion toward South African projects.
China, on the other hand, will be looking to expand markets for its exports.
To that effect, Xi said the two countries have an opportunity to push for substantial progress on existing cooperative projects, including a railway corridor, a science and technology park, vocational training and local cooperation, Chinese media said.
Zuma said that his country looks forward to boosting relations with fellow BRICS member China, especially in welcoming Beijing’s initiatives in infrastructure construction and personnel training.
The BRICS Post with inputs from Agencies
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