BIZCHINA / Center
China inks US$143m deal with S. Africa
By Hou Jinchun (Shanghai Daily)
Updated: 2007-04-04 16:19
China has signed deals worth US$143 million with South Africa to buy its
agricultural products, wine, wool and copper mines, Xinhua news agency
reported today.
The agreements, involving 13 Chinese firms and 82 South African
companies, followed Chinese pledge in the landmark China-Africa summit in
Beijing in November 2006 to seek more resources from Africa to meet
domestic demand.
The deals were signed in South Africa yesterday by Gao Hucheng, vice
chief of China's Ministry of Commerce, and Rob Davies, vice minister of
South Africa's trade and industry department.
Representatives from 13 Chinese companies including China Nonferrous
Metal Mining Co and China Textile Resources Co, and 82 South African
companies attended the signing ceremony.
Rich in minerals, South Africa is also a major producer of wine, which
China began to import in 2004. Its wine makers are facing fierce
international competition of global overproduction and lower domestic
demand.
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