SUN BUSINESS REPORTER writes
CHINESE Ambassador to Zambia Li Jie says Lusaka is his country’s second largest trading partner in Africa.
Mr Li said the increasing interest expressed by international investors in the Zambian economy reflected the enabling nature of the country’s business environment.
He said that in the first half of 2019 about US$260 million came into Zambia from China as direct investment in various sectors of the economy.
Ambassador Li projected that trade between Zambia and his country would continue to increase in the medium to long-term.
He also confirmed that in 2018, bilateral trade was in excess of US$ 5 billion of which over US$4 billion were Zambia’s exports to China and US$ 800 million represented imports from Asia’s heavyweight economy.
He explained that After Kenya, Zambia was China’s second largest trade partner in Africa.
Mr. Li expressed China’s pleasure in contributing to the implementation of various development projects in Zambia.
He explained that infrastructure built through the partnership of the two friendly nations would contribute to attainment of goals set in the Seventh National Development Plan and consequently to Zambia’s economic growth.
He took the opportunity to reaffirm his country’s readiness to help revitalize the TAZARA a joint venture between Tanzania and Zambia, and proclaimed that, “China will be glad like to see TAZARA play a significant role in Zambia’s new development thrust.”
Ambassador Li explained further that to operationalize the TAZARA revitalization plan, China was ready to offer technical support to the company and to aid the railway company’s return to its former glory.
At its peak in the 70’s, TAZARA moved in excess of five-million tons of cargo per annum but had declined to the current 300,000 tonnes per annum.
And Responding to Mr. Li’s brief, Finance Minister Dr Bwalya Ng’andu when the two met recently said the Forum for China-Africa Cooperation [FOCAC] offered opportunities for Zambia to benefit in the areas of agriculture, infrastructure, energy, tourism and provincial development; and would be fully explored.
Dr Ng’andu also indicated that climate change was impacting gravely on Zambia and hence the gradual movement of the agriculture belt to the northerly regions of the country where rain and water bodies were in abundance.
He said those natural endowments in the north needed to be harnessed systematically for both hydro and renewable energy ventures.
