Story by Tafara Chikumira
ZIMBABWE and China are deepening bilateral economic relations, with investments from the Asian giant now exceeding US$10 billion.
China remains Zimbabwe’s largest investment and trading partner, with its investments supporting more than one million livelihoods across various sectors of the economy.
The growing economic ties came into focus during an investment engagement involving officials from the Ministry of Industry and Commerce and a delegation of Chinese business investors, where opportunities to expand trade and investment were discussed.
China says it is keen to create more opportunities for Zimbabwean businesses to benefit from value addition and increased access to the Chinese market.
“We are happy with the level of cooperation we are having with the Republic of Zimbabwe. Our investments are in excess of US$10 billion. We are happy that trade is on an upward trajectory since we removed tax on all imports from Zimbabwe. This shows that our relationships are mutual as we begin to see more Zimbabwean products entering the Chinese markets,” Chinese Ambassador to Zimbabwe, H.E Zhou Ding said.
Government welcomed the continued growth of relations between Harare and Beijing, describing China as a key development partner.
“We are impressed by the level of commitment that has been shown by our all-weather friends in developing this country. We will continue to engage them in all spheres of the economy. We have adopted the ease of doing business mantra as part of our development trajectory, and the Chinese have proved to be handy for our dream to become a reality,” Minister of Industry and Commerce, Honourable Mangaliso Ndlovu said.
Chinese investors have established a significant presence in Zimbabwe, particularly in the mining and manufacturing sectors, contributing to industrialisation and economic growth.
Their investments continue to play a key role in supporting Zimbabwe’s development agenda and its drive towards the attainment of Vision 2030.
