China and South Africa's Partnership to Tackle Poverty

South African President Jacob Zuma while in the People's Republic of China during late August 2010. Zuma wants to enhance the economic relationship between the two countries where the ruling parties have had close fraternal ties for decades., a photo by Pan-African News Wire File Photos on Flickr.

China and SA's partnership to tackle poverty

JOHANNESBURG, SOUTH AFRICA
May 29 2011 07:33

The Comprehensive Strategy Partnership (CSP) between South Africa and China could positively address poverty and unemployment in the country, the department of trade and industry (DTI) said on Saturday.

"The CSP that was signed by President Jacob Zuma last year and his Chinese counterpart Hu Jinato could contribute positively in addressing poverty and unemployment [in South Africa]," said acting minister of the DTI, Ebrahim Patel.

He was speaking on Saturday night at the South Africa-China business dinner that was hosted by the Chinese Embassy in Pretoria.

The event was in honour of Wu Bangguo, the chairperson of China's National People's Congress, who is on a four-day visit to South Africa at the invitation of his local counterpart, Speaker Max Sisulu.

"The CSP committed ... to concerted effort between the two countries to develop a balanced trade profile and encourage trade in manufactured value-added products.

"It also committed to assist in securing funding for industrial development and small business development at concessionary rates in order to promote sustainable development," he said.

He urged negotiators to conclude the discussions between the developmental institutions "as soon as possible and on terms that help to strengthen the commitments in the CSP between our countries and for the benefit of our joint developmental agenda".

He said this would enable South Africans to find ways to tap into the Chinese capital markets, as well as investment in our productive sectors. - Sapa

Source: Mail & Guardian Online
Web Address: http://mg.co.za/article/2011-05-29-china-and-sas-partnership-to-tackle-poverty