ZAMBIA - CHINA FORUM CHEERED
THE first ever Zambia - China Trade Investment Forum has been welcomed by development advocates.
Business executive Joseph Chikolwa described the upcoming forum as significant as it will reaffirm China as a major trading partner. “China has been there for Zambia in good and bad times,” Mr Chikolwa said
“The Russia-Ukraine war hindered progress too. Much of our copper ends up in China. Therefore much of our foreign currency earnings come from China,” Mr Chikolwa said
Former permanent secretary in the Ministry of Commerce, Trade and Industry Stephen Mwansa said the forum is necessary and significant.
“China will want to benefit from the debt rescheduling efforts by maintaining its favourable trade position with Zambia. For Zambians, the objective is market access utilising the 7, 000 tariff lines on duty-free and quota-free basis especially for bee products etc. Most of our exports have been primary commodities especially minerals,” Mr Mwansa said
“The government has a daunting task of rebuilding the economy and should take advantage of all opportunities. From China, we should focus on production inputs, not consumer products as imports,” Mr Mwansa said.
According to the Chinese Embassy in Lusaka, the forum aimed at unlocking the trade and investment potential between the two countries.
The Trade and Investment Forum will be held in Lusaka from September 28 to 29, under the theme “China-Zambia investment in the new era, all-weather, all-diversion, and quality friendship.”
The forum, which will be co-hosted by the Chinese Embassy in Zambia and the Zambian Ministry of Commerce, Trade and Industry, has been cosponsored by the Zambia Development Agency (ZDA), China Non-Ferrous Metal Mining (Group)
Co., Ltd and the Chinese Chamber of Commerce, and has so far attracted nearly 200 Chinese enterprises to participate.
Chinese Ambassador to Zambia Du Xiaohui told journalists during a press briefing to announce the holding of the forum that 10 Chinese Fortune 500 enterprises have been invited to the forum.