South Africa looks forward to the forthcoming visit by Chinese Vice President Zeng Qinghong and Pretoria wants to further enhance bilateral relations with China, a high-ranking government official said Monday in Pretoria.
South African Deputy Foreign Minister Aziz Pahad described the bilateral relation between South Africa and China as "excellent" while briefing on the second session of the South Africa-People's Republic of China Bi-National Commission (BNC).
He said that the BNC will be co-chaired by South African Deputy President Jacob Zuma and his Chinese counterpart Zeng Qinghong.
"China is an economic giant. Chinese investors have already invested 93 projects in South Africa. We want greater investment in South Africa," said Aziz Pahad.
He told reporters in Pretoria that where South Africa would lose in certain sectors -- the textile and clothing industry -- it would gain in others, such as mining, tourism and energy.
Since the initiation of economic reforms beginning in 1978, China has become one of the world's fastest growing economies.
Over the past 10 years, its Gross Domestic Product has grown at an average annual rate of nearly 10 percent.
Spin-offs from its growth have benefited the South African market, Chinese ambassador to South Africa, Liu Guijin said.
According to Chinese custom's figures, South African exports to China in 1998 amounted to 690 million US dollars. By the end of 2003, it had grown to 1.84 billion dollars.
"This is South Africa's biggest increase to any one country," he said.
Bilateral trade in the first quarter of this year amounted to 1.67 billion US dollars, an increase of 66.6 percent from the same period in 2003.
"When other export markets like the United Kingdom dropped in 2003 by nine percent, South Africa's exports to China rose by 42 percent," Liu said, explaining that any future agreements would be mutually beneficial and far outweigh any negative impact China had on certain sectors.
"And those sectors we can sit down and talk about and I am sure we will find a solution," he said.
Deputy President Jacob Zuma will meet his Chinese counterpart, Zeng Qinghong, in Pretoria on June 29.
Various agreements pertaining to education, grant aid and co-operation between the South African Chamber of Commerce and Industry and the China Council for Promotion of International Trade will be signed.
Source: Xinhua