Zuma expected to bring jobs home - CNBC Africa

Zuma expected to bring jobs home

Southern Africa

by Trust Matsilele 0

South Africa's Jacob Zuma is expected to bring jobs home. PHOTOS: Unemployment SA/freetibet

KPMG’s China Head, Glenn Ho said the trip was also expected to build on strong diplomatic relations between the two BRICS nations.

South Africa said the recent establishment of the BRICS Development Bank - which is to be headquartered in Shanghai and the decision to locate its African Regional Centre in South Africa - was yet another clear indicator of South Africa’s growing significance in driving the African Agenda.

(READ MORE: BRICS Bank a milestone for developing countries)

The trip was also expected to build on the 2010 state visit and other focus group meetings that followed on after

The visit might also be an opportunity to operationalise projects that were agreed upon in the past few years.

“Part of the reasons for the trip is reviewing progress and cooperation in infrastructure development,” said the South African government.

“This includes reviewing progress in the locomotive procurement project, particularly cooperation in equipment manufacturing and the localisation of procurement through joint ventures with South African companies."

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The two countries were expected to sign deals which would impact the locomotives sector and Transnet.

Some of the deals will be good for the local manufacturing industry especially in stimulating jobs creation for a country facing ballooning youth unemployment.

Ho added, “There is need to sign deals that help in creating more jobs in South Africa so as to ensure a change in the complexion of trade deals between the two countries.”

(READ MORE: S.Africa’s Zuma seeks to strengthen relations with China)

“The two countries should be seen to be promoting a balanced trade moving from commodities exports to  promoting local manufacturing,” he said.

During the visit, leaders of the two countries will adopt the China-South Africa 5-10 Year Framework on Cooperation that will further entrench the implementation of agreements entered into since the conclusion of the Beijing Declaration in 2010.

The two countries are also expected to also expand on the Comprehensive Strategic Partnership.

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