Polokwane(South Africa): Newly-elected leader of the ruling African National Congress Jacob Zuma today pledged to work closely with President Thabo Mbeki and assured the business community that the party under his leadership will not radically shift its economic policies.

In his victory speech at closing ceremony of the ANC's 52nd national conference here, Zuma said he would work with Mbeki, the man he defeated in a bitter contest to lead the party, to strengthen the ANC.

He said local and foreign businessmen should not worry as the economic policies of the country would not change. "We have taken various resolutions at this conference, which will guide us on our way forward. ANC policies,including economic policies that have been adopted at this conference do not indicate a fundamental shift from the policies that the ANC has adopted since it has come into power", he said.

"There is therefore no reason why the domestic or international business community or any other sector should be uneasy," he said. There were apprehensions that there may be shift in South Africa's liberal economic policies as Communist Party backed his bid for ANC leadership. "We have made it clear that we need more foreign and domestic investment. We also encourage our domestic business community to invest in the local economy to encourage the international counterparts to do the same", he said.

Source : PTI