China, South Africa agree to seek balanced trade, more investments
Sth Africa seeks more balanced trade with China
Sth Africa, China look to expand renewable energy cooperation
China willing to increase employment in Sth Africa operations
Adds details of China financing to South Africa in paragraphs 10-12
By Liz Lee
BEIJING, Sept 3 (Reuters) -China and South Africa, whose top leaders met in Beijing, agreed to promote balanced trade and discussed boosting two-way investments between their industrial and commercial communities, a joint statement on Tuesday showed.
President Xi Jinping and his South African counterpart Cyril Ramaphosa met on Monday, ahead of the ninth forum on China-Africa cooperation. Both sides called Ramaphosa's visit of "great significance" to the development of bilateral relations.
Ramaphosa had sought with Xi to narrow South Africa's trade deficit with Beijing and review his country's trade structure with China, petitioning for more sustainable manufacturing and job-creating investments.
China, the world's second-biggest economy, is South Africa's largest trading partner globally but the value of its imports from China far outstripped exports last year.
In the joint statement, China showed it was willing to uplift job creation, citing recruitment conferences for Chinese enterprises to promote local employment in South Africa.
The statement also mentions adding manufacturing bases near the source of relevant raw materials, and promoting transfer of technology and skills among their businesses.
China was also willing to share more of its experience in poverty reduction and rural revitalisation, according to the statement published by the Chinese foreign ministry.
After the meeting, both countries signed numerous cooperation documents that included the application of a satellite navigation system, housing and settlement and export requirements for dairy products and raw wool from South Africa to China.
Both nations are looking to expand cooperation in renewable energy, energy storage, transmission and distribution, the statement said, adding that they will co-host a new energy investment conference to be organised by their chambers of commerce and associations.
But that document did not include any specific fresh investment or financing pledges.
In contrast, when the two leaders met in Johannesburg last August ahead of a BRICS summit, Chinese power companies committed to help upgrade South Africa's nuclear power plants, extend the life of its coal-fired power stations, and set up transformer and solar PV panel manufacturing facilities across the country.
Then, Ramaphosa said Beijijng had extended a grant worth 500 million rand for the power sector, without giving timelines.
In Beijing, the two leaders also jointly called on the international community to support African countries in implementing the African Continental Free Trade Agreement, an FTA that would make up the world's largest free trade area creating a single continental market for goods and services, helping Africa advance its integration.
Reporting by Liz Lee and Shanghai newsroom; Editing by Jamie Freed and Michael Perry
Últimas noticias
Descargo de responsabilidades: Cada una de las entidades de XM Group proporciona un servicio de solo ejecución y acceso a nuestra plataforma de trading online, permitiendo a una persona ver o usar el contenido disponible en o a través del sitio web, sin intención de cambiarlo ni ampliarlo. Dicho acceso y uso están sujetos en todo momento a: (i) Términos y Condiciones; (ii) Advertencias de riesgo; y (iii) Descargo completo de responsabilidades. Por lo tanto, dicho contenido se proporciona exclusivamente como información general. En particular, por favor tenga en cuenta que, los contenidos de nuestra plataforma de trading online no son ni solicitud ni una oferta para entrar a realizar transacciones en los mercados financieros. Operar en cualquier mercado financiero implica un nivel de riesgo significativo para su capital.
Todo el material publicado en nuestra plataforma de trading online tiene únicamente fines educativos/informativos y no contiene –y no debe considerarse que contenga– asesoramiento ni recomendaciones financieras, tributarias o de inversión, ni un registro de nuestros precios de trading, ni una oferta ni solicitud de transacción con instrumentos financieros ni promociones financieras no solicitadas.
Cualquier contenido de terceros, así como el contenido preparado por XM, como por ejemplo opiniones, noticias, investigaciones, análisis, precios, otras informaciones o enlaces a sitios de terceros que figuran en este sitio web se proporcionan “tal cual”, como comentarios generales del mercado y no constituyen un asesoramiento en materia de inversión. En la medida en que cualquier contenido se interprete como investigación de inversión, usted debe tener en cuenta y aceptar que dicho contenido no fue concebido ni elaborado de acuerdo con los requisitos legales diseñados para promover la independencia en materia de investigación de inversiones y, por tanto, se considera como una comunicación comercial en virtud de las leyes y regulaciones pertinentes. Por favor, asegúrese de haber leído y comprendido nuestro Aviso sobre investigación de inversión no independiente y advertencia de riesgo en relación con la información anterior, al que se puede acceder aquí.