“China helped us belong to BRICS”- Zuma
December 5, 2014, 2:30 pm

China became South Africa’s top trading partner in 2009 [GCIS]

“China helped us to belong to the BRICS family. We are proud to count the People’s Republic of China as among such friends who lent moral, material and political support to achieve a free and just South Africa,” said Zuma while delivering a lecture at China’s prestigious Tsinghua University.

In 2011, South Africa joined to give the BRICS a broader geographic representation. South Africa will establish an African regional center for the newly formed $100 BRICS bank.

“Our twenty years story owes much to our loyal international partners like China as it does to the people of South Africa,” Zuma said.

Zuma was awarded an honorary professorship at China’s Tsinghua University on Friday.

The explosion in South-South trade, one of the cornerstones of BRICS policy, leapt to 17 per cent of the global total in 2009 from 7 per cent in 1990.

China has invested  120 billion rand ($11 billion) in South Africa, the South African President said on Friday in a business forum meet in Beijing.

“China’s investment into South Africa is cumulatively valued at approximately R120bn, with over 100 state-owned entities and multinational companies investing in South Africa,” Zuma said.

“We count on this formidable friendship, including within the south and BRICS framework, as we deepen our relations and forge ahead with our developmental agenda,” added Zuma.

China and South Africa pledged Thursday to cooperate in equipment manufacturing, finance, and aviation. The leaders of the two countries have also adopted the “China-South Africa 5-10 Year Framework on Cooperation” during Zuma’s visit.

China National Nuclear Corporation and the South African Nuclear Energy Corporation have signed a cooperation pact on nuclear energy.

China became South Africa’s top trading partner in 2009 although trade is heavily skewed in China’s favour.

“We have agreed that China would encourage buying missions to South Africa starting early in 2015, as part of promoting a balance in our trade relations,” said Zuma on Friday.

Critics of Chinese investment in Africa have said the Asian giant harbours neo-colonial intentions. Zuma has repeatedly refuted such allegations.

Meanwhile, on Friday the South African President also urged Chinese companies to participate in South African infrastructure projects.

“South Africa also presents opportunities for Chinese companies in the infrastructure programme, which has enormous potential, through its opportunities, to improve the lives of the people,” said Zuma.

Beijing’s relations with South Africa have flourished in the past decade with massive Chinese investment across the country and the African continent.

“We are good friends and good brothers that mutually benefit each other,” Chinese President Xi Jinping told Zuma in Beijing on Thursday.

South Africa-China trade jumped by 32 per cent between 2012 from R205 billion to R270 billion in 2013.

Zuma also welcomed Chinese investment in the tourism industry.

“China has been South Africa’s fourth largest source market for tourist arrivals for the second year in a row, growing by 14.7 percent to reach 151,847 tourist arrivals in 2013.”

TBP