China, South Africa Wrapped 10 Business Co-op Agreements
August 25th, 2010 | CaijingCompanies and organizations from China and South Africa on Tuesday signed ten business cooperation documents covering areas such as solar power, mining, telecommunications, insurance and finance.
Companies and organizations from China and South Africa on Tuesday signed ten business cooperation documents covering areas such as solar power, mining, telecommunications, insurance and finance.
“We envisage meaningful future cooperation in infrastructure, the benefaction of minerals, engineering, energy, information and communications technology and electronics. There are also opportunities to be explored in manufacturing,” South African President Jacob Zuma said during his four-day visit in China.
Zuma was accompanied by a delegation of 350 ministers and businessmen, the largest of its kind on a foreign tour since he took office.
Total value of the ten documents, which were signed at the China-South Africa Business Forum, remains undisclosed for concerns over business secrets, but it can be described as “enormous,” according to several high-ranked officers at the signing ceremony.
An executive from China Railway Group told Caijing reporters that one of their projects in South Africa抯 high-speed railway is valued at 10 million U.S. dollars while Suntech Power is scheduled to invest 1 billion U.S. dollars in a solar PV station in South Africa.
Zuma said he hoped the two countries could advance cooperation in infrastructure, noting that the two are discussing on potential cooperation in South Africa’s roads and railway construction.