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Zuma boosts economic relations

Mar 28 2012 17:59 Sapa

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Johannesburg - President Jacob Zuma has urged Russia and Brazil to invest in South Africa, the presidency said on Wednesday.

Spokesperson Mac Maharaj said Zuma held bilateral meetings with Presidents Dmitry Medvedev of Russia and Dilma Rousseff of Brazil, at the fourth summit of Brazil, Russia, India, China and SA (Brics) in India.

He said Zuma expressed interest in cooperating with Russia in engineering, especially with the training of South Africans in Russia.

"The president also raised interest in cooperation in mining, especially the operation of the ore line from Sishen iron ore deposits to Saldanha harbour."

Maharaj said Russia had expressed interest in cooperating with South Africa in the construction of nuclear power plants.

South Africa's integrated resource plan 2010 indicated that nuclear power should form part of the energy mix by 2030, with the first plant coming on line as early as 2023.

In his meeting with Rousseff, Zuma welcomed the growth in trade relations between the two countries.

"We are very happy with the partnership between South Africa's Airports Company (Acsa) and Invepar of Brazil, to run Brazil's most prominent international airport of Guarulhos for the next 20 years.

"More such ventures and opportunities could be created between South Africa and Brazil, to the benefit of both countries' industries," Zuma said.

He said he was happy that Brazil's largest construction company, Odebrecht, was due to establish an office in South Africa.

"This opens up possibilities for greater private sector collaboration."

South Africa also sought cooperation with Brazil in energy, to assist further diversify the country's energy portfolio, both in terms of sourcing and in the mix of energy supply.

Brazil boasts some of the world's largest oil and gas reserves. It is the second-largest producer of ethanol in the world.

jacob zuma  |  brics  |  brazil  |  investments  |  russia  |  south africa
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