China develops strong appetite for Zim goods
ZIMBABWEAN products are set to enjoy increased demand in China, a new report from the country’s export promotion agency, ZimTrade has said.
Trade between China and Zimbabwe increased by 39,4% to US$2,43 billion in the first nine months of 2023 compared to the same period of 2022, surpassing the total trade volume for 2022, data from the Chinese embassy show.
Zimbabwe’s exports to China during this period totalled US$1,36 billion, while imports amounted to US$1,07 billion.
In August last year, China was Zimbabwe’s third-largest export destination, with neighbouring South Africa being the largest and the United Arab Emirates in second position, according to the Zimbabwe National Statistics Agency.
Regarding imports, China was Zimbabwe’s second-largest source market after South Africa.
Trade between China and Zimbabwe has seen positive growth in recent years, primarily driven by mining and agricultural exports to China.
“The participation of Zimbabwe at the 6th China International Import Expo (CIIE), that was held in Shanghai, China from November 5 to 10 exposed the demand, which is set to boost the country’s exports to Asia when local companies start to meet order requirements,” ZimTrade said in its latest report.
Zimbabwe participants at CIIE, which ran under the banner: New Era, Shared Future, were drawn from government institutions and the private sector.
Since its inception in 2018, CIIE has become a significant platform for promoting global trade and facilitating international cooperation. It is designed as a comprehensive platform to showcase products and services from around the world, promote bilateral trade and foster economic globalisation.
The expo featured various exhibition areas, including trade in food and agricultural products, consumer goods, services, automobiles, equipment, technology and healthcare.
Participating companies under the ZimTrade umbrella were drawn from processed foods, leather and arts and crafts and crafts sectors.
Speaking during the Stanbic Bank-China Day event in Harare recently, ZimTrade chief executive officer Allan Majuru said China is a valuable market for Zimbabwean products.
“Over the years, ZimTrade has been facilitating meetings between buyers and exhibitors in China and Zimbabwe in order to stimulate demand for local products,” he said.
Chamber of Chinese Enterprises in Zimbabwe vice chairperson Liu Baixue said trade between the two countries has been on a positive trajectory.
She added that commodities of more varieties and quantities are going to be exported to China in the future, particularly Zimbabwe’s citrus, given the size of the Chinese market.