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A coal-to-liquid fuel project and an investment plan for iron resource highlighted a series of cooperation agreements signed in Pretoria Tuesday by China and South Africa, respectively the world's fastest-growing economy and the strongest economy of Africa.
Visiting Chinese Vice President Zeng Qinghong and his South African counterpart Jacob Zuma attended the signing ceremony of the agreements, which also guideline bilateral cooperation in fields such as education, human resources, export of South African citrus products, and plant quarantine.
Although the signed was just a statement of intent for the cooperation in the feasibility study stage-1 of coal to liquids, it marked South Africa's petrochemical group Sasol will gain a foothold in the world's largest producer of coal and a market wit substantial energy needs.
Sasol has been in talks with a combined working team of China for several years about the establishment of coal-to-liquid fuel ventures in China, which aims to raise its energy self-sufficiency.
The company was reportedly considering two Chinese projects worth 3 billion US dollars each.
China's Jiuquan Iron and Steel Group Company also signed a framework agreement with two Australian companies and a South African company on investment into a ferrochrome project in South Africa.
The agreements were signed after the second plenary of the China-South Africa Bi-National Commission (BNC), co-chaired by Zeng and Zuma. The meeting has become a mechanism to strengthen ties and expand trade relations between the two countries since its first session was held in December 2001.
A new subcommittee under the BNC will be established to boost China-South Africa cooperation in minerals and energy development.
An education subcommittee has agreed to establish a Chinese Language Center at South Africa's University of Stellenbosch, and a committee of business and trade has discussed the entry of South African farm products into the Chinese market.
(Xinhua News Agency June 30, 2004)
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