Chinese trade will create more jobs - Zuma

Published Oct 1, 2004

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Beijing - China will become an "engine for jobs in South Africa", said Deputy President Jacob Zuma on Thursday at the end of his official visit.

This week Zuma met with Chinese President Hu Jintao and vice-president Zeng Qinghong in Beijing and other Chinese government officials across China in order to strengthen economic and political ties.

Said Zuma: "China will become an engine for jobs in South Africa because of its capacity. It is a huge market in every respect. If the Chinese market opens up further, South Africa will have an opportunity to increase its production.

"The end result is that we will need more labour for our exports. When the Chinese companies begin to invest in a big way in South Africa, that will also create employment opportunities."

Chinese investment in South Africa is $180-million, while SA investment in China is $570-million.

South Africa is China's largest trading partner in Africa. Trade between the two countries has increased from R9,3-billion in 1990 to R23,3-billion in 2003.

Zuma said the two countries had a "clear understanding" that they should themselves process gold and diamonds locally, instead of exporting them to Europe - this would create more jobs.

Zuma said China was especially interested in South Africa as a partner in global affairs.

"It is important for SA to have a relationship with China because China is a rising power in international affairs.

"We share the same views on the need to transform multilateral relations, through the reform of the UN system, the World Trade Organisation, the World Bank and the International Monetary Fund."

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