AfricaNews editorial desk with files from Reuters
South African President Jacob Zuma has called for greater investment in his country from China, as South Africa seeks to narrow its trade deficit with Beijing and bring growth to its slow-moving economy. "China is indeed a key strategic partner for South Africa, and South Africa is open for business in a big way," he said.
South Africa is looking for expanded trade that will help it meet its development needs, especially by improving infrastructure and livelihoods, Zuma told a forum of business executives from China and South Africa.
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.
South Africa and China could cooperate in infrastructure, the benefaction of minerals, engineering, energy, information and communications technology and electronics, Zuma said.
With GDP growth forecast at 2.3 percent this year, South Africa stacks up unfavourably against China, and Zuma is looking to narrow his country's trade deficit with Beijing.
China is South Africa's largest trading partner, but last year South Africa ran a $2.7 billion trade deficit with China.
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