Solidarity urged for major emerging economies
Updated: 2012-03-27 07:17
By Zhang Yunbi in Seoul (China Daily)
Boosting solidarity and cooperation in major emerging economies, which are facing common challenges, is the most important and urgent need, President Hu Jintao told his South African counterpart in a meeting on Monday.
Hu met South African President Jacob Zuma on the sidelines of the 2012 Seoul Nuclear Security Summit, at which more than 50 heads of state are gathering on Monday and Tuesday.
China and South Africa are witnessing a historical opportunity in developing ties and should make cooperation the "role model" for major developing countries, Hu said.
The two countries share interests in many important international issues, and Beijing hopes to further communication and coordination in multilateral organizations and mechanisms, including the United Nations, G20 and BRICS, Hu said.
The BRICS - Brazil, Russia, India, China and South Africa - are among the major emerging economies in the world. In December 2010, South Africa was formally invited to join the bloc.
After the Seoul trip, Hu and Zuma will attend the fourth BRICS Summit from Wednesday to Thursday in New Delhi.
Beijing hopes the two can "bring developing countries a stronger collective power and greater say on global stage", Hu said.
The BRICS nations now need to boost solidarity and exchange views on how to meet a series of substantial challenges, including the European debt crisis, analysts said.
"The major emerging economies are facing pressures from trade protectionism imposed by developed economies as well as challenges in security affairs that sometimes threaten their independence in sovereignty," Yang Lihua, a researcher of Africa studies at the Chinese Academy of Social Sciences, told China Daily.
"Bilateral ties have seen signs of prosperity and development under the guidance of the communique," said Hu, adding that both have boosted exchanges between top policymakers, and political mutual trust has been deepened.
South Africa is China's largest trade partner in Africa, and China is South Africa's largest trade partner. Their trade volume accounts for more than a quarter of China-Africa trade. In 2011, the two countries achieved bilateral trade of $45.43 billion, a 77.1 percent year-on-year rise.
Zuma said South Africa would like to work with China to further advance partnership outlined in the communique and promote mutually beneficial cooperation in various fields.
Hu called on deepening practical cooperation between the two countries and said Beijing encourages Chinese financial institutions and enterprises to expand investment in South Africa in sectors concerning infrastructure construction, green economy and agricultural product processing.
Meanwhile, both leaders agreed that the development of relations is benefiting not only both countries but also all of Africa.