International Relations and Cooperation Minister Maite Nkoana-Mashabane has arrived in Beijing, People’s Republic of China, to co-chair the first meeting of the South Africa-China Inter-Ministerial Joint Working Group on Cooperation scheduled for 3 to 4 September 2014.
During the State visit to South Africa by President XI Jinping in March 2013, the “Terms of Reference of the South Africa-China Inter-Ministerial Joint Working Group on Cooperation” were signed.
The objectives of the Joint Working Group on Cooperation are to monitor the implementation of cooperative projects, manage and solve challenges which may arise during the implementation of such projects, and further elevate bilateral economic relations through the deepening of practical cooperation.
South Africa–China bilateral relations have enjoyed phenomenal progress in the space of 15 years and have grown from a Partnership to a Strategic Partnership and subsequently to a Comprehensive Strategic Partnership.
South Africa and China have committed to building, developing and strengthening relations based on shared principles of friendship and mutual trust; equality and mutual benefit; coordination; mutual learning; and working together for development.
Furthermore, the objectives of the Joint Working Group on Cooperation are:
to achieve a more equitable trade balance, encouraging trade in manufactured value–added products, increased inward-bound trade and investment Missions;
to finalise the working group on trade statistics;
to increase investment in South Africa’s manufacturing industry;
to promote value-adding and beneficiation activities in close proximity to the source of raw materials;
to cooperate and provide mutually beneficial technical support in the areas of the green economy, skills development and industrial financing; and
to pursue opportunities to cooperate in infrastructure construction projects such as roads, railways, ports, power generation, airports and housing.
The overall aim of South Africa’s approach is to use this mechanism to address inequality, poverty and unemployment, through enhancing our bilateral economic relations.
SOURCE: SOUTH AFRICAN OFFICIAL NEWS