JOHANNESBURG South Africa (Xinhua) --
South Africa’s Ministry of Trade and Industry on Monday signed a
Memorandum of Understanding (MOU) on strategic cooperation with Bank of China in
Johannesburg to strengthen the relations between the two entities.
The MOU will
enable both parties to treat each other as a preferred partner and share
information on investment opportunities.
It will also
enable both parties to optimize their own advantages in initiating mutual
investment promotion campaigns and to join hands in supporting enterprises of
the two countries for more profound investments, as well as economic and trade
Davies, minister of trade and industry, said the signing of the MOU will enhance
cooperation between the two countries. “The MOU will allow and strengthen the
relations between the government of South Africa and Bank of China, joint
sponsorship of seminars and marketing activities.”
He also said
that both parties will hold a joint investment seminar on May 8-11 in China to
promote opportunities in the interests of both countries.
South Africa will use the opportunity to promote the Special Economic Zones (SEZ)
and try to attract investment, noting that South Africa’s relationship with
China is bearing fruit with investments from Chinese companies.
He said that
the MOU is also the “fruition” of the Forum on China-Africa Cooperation (FOCAC),
which was held in his country in 2015.
“This is a
step forward in the bilateral relations, many of which are at different stages
nearing fruition. The MOU will allow for joint promotion of the Special Economic
Zones, important developmental projects critical to the realization of our
shared dreams. Bank of China is critical in facilitating investment projects and
industrial finance,” he said.
He said they
would need China’s assistance to realize their dream of economic development
through SEZ. South Africa will send 40 government officials this year to be
trained for SEZ development in China.
“The MOU will
enable both parties to establish much closer coordination scheme(s), focus on
the plan of 10 major cooperation projects, and give full support to the mutual
investment and market expansion of enterprises from (the) two countries,” he
Bank of China
chairperson, Tian Guoli, said Sino-South African cooperation is growing very
fast. He agreed with Davies that the 2015 FOCAC promoted comprehensive
development of the bilateral relations.
geographically far apart from each other, the friendship between the peoples of
China and South Africa has endured the test of time and has grown deeper and
Sino-South African relations have great potential to grow, said Tian, adding
that Bank of China has played a pivotal role in facilitating China’s African
strategies and building a bridge of friendship and economic and trade
cooperation between the two countries.
The bank has
established branches in seven African countries and has networks in Africa among
Chinese commercial banks.
China has confidence in Africa’s development. Through the operation of these
banks, we have constructed a financial service network covering mainly African
regions to (use) China’s financial strengths and contribute to the economic and
social development of African countries,” Tian said.