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Alba Iulia
Friday, July 3, 2020

Trade between Zambia and China grows to $3.8 billion-Chikwanda

Economy Trade between Zambia and China grows to $3.8 billion-Chikwanda

Finance Minister Alexander Chikwanda addressing accountants during the ZICA annual ball dinner at Zambezi Sun Hotel in Livingstone
Finance Minister Alexander Chikwanda

Finance Minister Alexander Chikwanda says bilateral trade between Zambia and China has grown from US$21 million in 1995 to $3.8billion us dollars in 2014.

Speaking during the 2nd Zambia -China joint trade and economic committee meeting in Lusaka this afternoon, Mr. Chikwanda says Zambia and China share common interests and destiny and the two countries have a common desire of ensuring economic prosperity and uplifting the standards of living of their people.

Mr. Chikwanda notes that Zambia and China have also enjoyed long standing cordial and warm relations guided by principles of treating each other sincerely and equally, consolidating solidarity and mutual trust, joint pursuance of inclusive growth and development and promoting innovation in practical bilateral cooperation.

He adds that the Chinese Government has generously continued to support Zambia in areas of agriculture, education, health care, infrastructure, forestry and wild life protection, water and sanitation among other areas.

Mr. Chikwanda however, states that even with the cherished support, there is still room for improving, broadening and widening the frontiers of the bilateral relations through enhanced dialogue.

He notes that while the committee was established in 1986 to explore the various cooperative ways of economic, technical and trade relations and to study and solve any problems which may arise in the cooperation between the two countries; it has sadly not held a meeting for over two decades.

And Chinese vice Minister of Commerce Dr. Qian Keming says China is committed to its commercial relations with Zambia.

Dr Keming says after more than two decades of not holding meetings, the joint committee has been revived which is of great significance.

He notes that China and Zambia have always understood and supported each other on issues related to their core interest of nature concerns.

During the meeting, the two ministers also exchanged notes on the establishment of national milling plants in Zambia and the donation of vocational education supplies.

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8 COMMENTS

  1. The Chinese economy premise on the 8% growth rate though not successfully achieved in recent past Chine has achieved robust growth according to global standards though its deflators on nominal growth in trades with Zambia as a measure of that GDP growth for Chinese needs to be accurately calculated and data well refined and avoiding omissions and underestimating the growth arising from Zambia’s commodities including the contribution to the employment rate that is seen to be remote to the trades with Zambia for the economic ties with Zambia to be such significantly appreciated

    Its has to be aggregates that are transparent and reflective both to Zambia and…

  2. China As of now China is the one having that modest 8% averaging standard growth whether accurately or inaccurately computed

  3. Great news,
    China is bringing civilization to Zambia, by:
    1) Teaching you haw to grow crops
    2) Assisting you in extracting minerals
    3) Educating your impoverished students abroad, and
    4) Setting new standards in running hospitals
    Finally, after 50 years, Zambia is making progress!

    • Also including poaching of ivory and rhino horns and introducing gambling vices and not forgetting the flooding of fake substandard goods. Incuraging corruption is thier speciality.

  4. THIS REPORT IS SO VAGUE. IT DOESN’T TELL US THE SHARE RATIO OF THE $3.8 MEANING WHICH SIDE IS EXPORTING MORE THAN THE OTHER AND WHICH SIDE IS BARELY EXPORTING OR NOT RATHER THAN EXPORTING. IT WOULDN’T BE SURPRISING IF THE SHARE RATIO IS IN FACT 9 : 1 IN FAVOUR OF CHINA. IT’S HIGH TIME ZAMBIA INDUSTRIALISED TO START EXPORTING MACHINERY AND POWER TOOLS TO OTHER COUNTRIES.

  5. When the man of the pulpit, Chiti, stands up to speak, you can hardly tell the difference between him and Alex Chikwanda, the politician.

  6. The time for this old fossil to GO is long past!
    Chikwanda has bankrupted Zambia once before. Are PF so stupid they will let him do it again???!!
    Next to incompetent and dull occupants of State House, this man is the greatest threat to National security Zambia has ever had.
    Get out you old F,00L, you have shown without doubt that you have no solutions to our problems.

Comments are closed.

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