ZAMBIA AND CHINA CONSOLIDATES BILATERAL RELATIONSHIP FOR PROMOTION OF TRADE AND COMMERCE
By Chanda Kanswe
The Association of Chinese Corporations in Zambia (ACCZ), in collaboration with the Zambia Development Agency (ZDA), has successfully held the economic and trade symposium to leverage Zambia’s fertile business environment to harness increased trade and investment.
Under the theme “Harnessing the Momentum to Create New Development Opportunities in the Zambia-China Corporation”, the Zambian government has since expressed a strong desire to strengthen the already existing bilateral relations between the two countries for enhanced commerce and trade.
Speaking when he officially opened the symposium, acting Minister of Commerce Trade and Industry, Mr. Rodney Sikumba highlighted the invaluable support that the Chinese business community has provided to Zambia over the period spanning almost 60 years.
He further highlighted the invaluable support that the Chinese business community has provided to Zambia over the years resulting in increased Foreign Direct Investment (FDI), from China in major sectors such as mining, infrastructure, manufacturing, and energy, thereby, contributing to the transformation of the country’s economy.
“I am particularly happy to indicate that China granted favourable market access to about 98 per cent of product lines emanating from Zambia. Products such as soya bean meal, honey, and stevia produced in Zambia are some of the products recently negotiated and added to the list of products that receive preferential treatment”, Mr Sikumba further said.
In recognition of China as a global leader in the production and use of power and technological advancement, in agriculture, energy production, and manufacturing, Mr Sikumba invited the Chinese business community to take advantage and assist Zambia in finding solutions to the current drought situation which has been declared a national disaster by President Hakainde Hichilema.
The Minister further invited more investors from China to get involved in Zambia’s priority sectors such as Agriculture and agro-processing, mining and mineral beneficiation and processing, tourism, and Energy.
Meanwhile, ZDA Director General Mr Albert Halwampa, also addressed the symposium, encouraging the Chinese business community to capitalize on Zambia’s pro-business policies.
Mr Halwampa said ZDA is more than ready to facilitate and ease all investor-related challenges that may affect seamless business investments.
He highlighted recent system upgrades by the ZDA aimed at simplifying business processes and avoiding delays, thereby optimizing business investments.
And ACCZ Chairperson, Mr Cui Hailiang, appreciated Zambia’s socioeconomic development and pledged to leverage established bilateral relationships to foster continued trade and commerce.
He further pledged to create opportunities for close and enhanced intergovernmental relations for enhanced investments, expressing confidence that China will continue to collaborate with Zambia in building robust business and cultural ties, benefiting both nations significantly.