Pretoria - China and South Africa have signed two deals on geology and mineral resources and financial cooperation on the sidelines of the South African Deputy President's visit to China.
The memorandum of understanding (MoU) on geology and mineral resources cooperation and an agreement for the development of financial cooperation were signed after talks concluded between visiting Deputy President Kgalema Motlanthe and Chinese Vice President Xi Jinping on Wednesday.
According to the MoU, the cooperation will focus on geology and sustainable mineral resources management, utilisation and development in both countries on the basis of mutual benefit.
With regards to the agreement signed by China Development Bank and Development Bank of South Africa, the two banks will provide financial support for bilateral cooperation in infrastructure construction, transportation, water resources utilisation, housing, health and education.
Cooperation in the two areas is a priority for the two countries and both sides have pledged greater efforts in the future.
In addition to the deals, China proposed that South Africa give full play to their advantages and strengthen trade cooperation.
Calling the development of bilateral relations in the past 10 years "a great leap forward," Xi said China and South Africa should join hands and promote their comprehensive strategic partnership for "better and faster" development in the next 10 years.
China and South Africa established a comprehensive strategic partnership in August last year.
"Our cooperation in all areas scored many new achievements in one year. The two countries witnessed closer high-level exchanges, greater strategic mutual trust, a more consolidated political foundation for bilateral ties, expanded trade cooperation, increased active cultural exchanges and closer cooperation in international affairs," Xi said.
Motlanthe called on the two countries to deepen political mutual trust and make their partnership a model of cooperation between developing countries. The two sides should expand exchanges between political parties and exchange governing experience.
The Deputy President committed South Africa to work with China to further expand cooperation in trade, investment, aviation, mineral resources and international affairs.
He also called for more bilateral cooperation in human resources training, education, technology and media, as well as cooperation within various mechanisms, including the United Nations, World Trade Organisation, G20 and the group of countries known as BRICS (Brazil, Russia, India, China and South Africa).
Speaking earlier at China Executive Leadership Academy Pudong in Shanghai, Motlanthe hyped China's contribution to South Africa's development in the past decade.
"Africa has grown well in the past 10 years, and we recognise China's contribution made both through direct foreign investment and in support of infrastructure development programmes," Motlanthe said.
He noted that despite the progress, Africa still has a massive infrastructure gap, with inadequate and unreliable energy being Africa's most acute problem, which holds back investment and improvement in the quality of life.
Given its abundant resources, Motlanthe said what Africa needs at the moment is massive investment in infrastructure to unlock the development potential.
In this regard, he said, a strategic partner like China can play a leading role in benefiting people in both countries.
Motlanthe said that diversification of production in Africa is critical.
"Therefore, South Africa will wholeheartedly support Chinese investment in the productive sector and encourage Chinese companies to continue seeking suitable partners in the country."
Motlanthe is in China in a bid to strengthen political and economic relations with the country.
During the visit, Motlanthe has meet with Premier Wen Jiabao in Beijing, and Party Secretary of Shanghai Municipality Committee of the Communist Party, Yu Zhengsheng.
Before coming to Beijing, Motlanthe visited Shanghai. He will wrap up his visit to China on Friday by meeting Chinese President Hu Jintao. - BuaNews-Xinhua
