OREANDA-NEWS. October 03, 2011. China and South Africa signed two deals on geology and mineral resources, and financial cooperation on the sidelines of the South African vice president's visit to China.

The memorandum of understanding on geology and mineral resources cooperation and an agreement for the development of financial cooperation were signed after talks concluded between Chinese Vice President Xi Jinping and South African Vice President Kgalema Motlanthe in the Great Hall of the People.

According to the memorandum of understanding, the cooperation will focus on geology and sustainable mineral resources management, utilization and development in both countries on the basis of mutual benefit.

According to the agreement signed by China Development Bank and Development Bank of South Africa, the two banks will provide financial support for bilateral cooperation in infrastructure construction, transportation, water resources utilization, housing, health and education.

Cooperation in the two areas is a priority for the two countries and both sides have pledged greater efforts in the future.

In addition to the deals, Xi also proposed that China and South Africa give full play to their advantages and strengthen trade cooperation.

Calling the development of bilateral relations in the past 10 years "a great leap forward," Xi said China and South Africa should join hands and promote their comprehensive strategic partnership for "better and faster" development in the next 10 years.

China and South Africa established a comprehensive strategic partnership in August last year.

"Our cooperation in all areas scored many new achievements in one year. The two countries witnessed closer high-level exchanges, greater strategic mutual trust, a more consolidated political foundation for bilateral ties, expanded trade cooperation, increased active cultural exchanges and closer cooperation in international affairs," Xi said.

He also appreciated South Africa's "valuable support" on the Taiwan and Tibet issues.
Xi called on the two countries to deepen political mutual trust and make their partnership a model of cooperation between developing countries. The two sides should expand exchanges between political parties and exchange governing experience.

He also called for more bilateral cooperation in human resources training, education, technology and media, as well as cooperation within various mechanisms, including the United Nations, World Trade Organization, G20 and the group of countries known as BRICS (Brazil, Russia, India, China and South Africa).

The two countries should keep closer negotiation and cooperation on major international and regional issues and maintain their common interests, Xi said.

Motlanthe echoed Xi, saying South Africa will work with China to further expand cooperation in trade, investment, aviation, mineral resources and international affairs.

It will also strengthen exchanges and cooperation with China within the framework of the China-Africa Cooperation Forum, so as to benefit the two peoples and contribute to Africa's peace and prosperity.

Chinese President Hu Jintao and Premier Wen Jiabao will also meet with Motlanthe in Beijing during the second leg of his China tour.