China and South Africa sign MOU
China and South Africa have signed two deals on geology and mineral resources, and financial cooperation.
The memorandum of understanding (MOU) was signed by South African Vice President Kgalema Motlanthe and Chinese Vice President Xi Jinping in China.
According to the MOU signed by China Development Bank and Development Bank of South Africa, the two banks will focus on geology and sustainable mineral resources management, as well as financial support for bilateral cooperation in infrastructure construction, transportation and water resources.
In addition to the deals, Xi also proposed that China and South Africa play to their advantages and strengthen trade cooperation.
He adds that the two countries should keep closer negotiation and cooperation on major international and regional issues and maintain their common interests.
Motlanthe agreed saying that South Africa will work with China to further expand cooperation in trade, investment, aviation, mineral resources and international affairs.
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