China and Zimbabwe agreed to establish a comprehensive partnership for cooperation and expansion of trade during Zimbabwean President Emmerson Mnangagwa’s state visit to China.
The China-Zimbabwe business forum held in Beijing on April 3 concluded agreements of intentions to cooperate in such fields as infrastructure, manufacturing and energy. President Mnangagwa presided over the forum, joining over 400 business representatives from both countries.
Zimbabwe is committed to accelerating economic development and building up a sound business environment, said the President at the forum.
He also expressed the country’s willingness to strengthen bilateral relations and cooperation with China, and hopes for more investments from China.
Zimbabwe remains an important economic and cooperative trade partner in Africa, featuring highly complementary economic conditions as well as broad prospects for further cooperation with China, said Jiang Zengwei, Chairman of China Council for the Promotion of International Trade (CCPIT).
Jiang suggested expanding bilateral trade, promoting imports and exports of quality products and enhancing exchanges between the Zimbabwean and Chinese business communities.
Meanwhile, a Memorandum of Understanding (MoU) was signed between CCPIT and ZimTrade, Zimbabwe’s National Trade Development and Promotion Organization.
More than 400 business delegates attended the forum and the ensuing project match-making meeting. A batch of cooperation intentions were reached in infrastructure construction, manufacturing, agriculture, energy, mining and information technology.
China has been the largest foreign investor and the fourth biggest trading partner with Zimbabwe. In 2017, China’s investment in Zimbabwe totaled $1.8 billion and the bilateral trade volume reached $1.3 billion, according to official statistics.
(Part of the text from People’s Daily)