Zimbabwe and China to strengthen economic ties with record trade growth

The annual Zimbabwe-China Business Forum has deepened the economic partnership between the two nations, providing a platform for business leaders to explore new opportunities in trade and investment. This is reported by New Ziana, a partner of TV BRICS.

During the forum, Chinese Ambassador to Zimbabwe, Zhou Ding, highlighted the remarkable progress in trade relations, revealing that bilateral trade reached a record US$3.12 billion in 2023; that is a 29.9 percent increase from the previous year. Zimbabwe achieved a trade surplus of over US$1 billion, exporting US$2.1 billion worth of goods to China while importing US$951 million.

Chinese demand for Zimbabwean exports continues to diversify, with mineral ores, macadamia nuts, tobacco, leather products, arts and crafts, and citrus fruits among the most sought-after commodities.

Allan Majuru, the CEO of ZimTrade, Zimbabwe's national trade development and promotion organisation, expressed Zimbabwe’s ambition to solidify its position as China’s leading economic, technological, and industrial partner in Africa.

“We see in China not only a trade partner but a vital source of expertise, technology, and investment, all of which are integral to our aspirations for growth,” Allan Majuru said.

The Zimbabwe-China Business Forum has laid a strong foundation for future collaboration, with both nations poised to benefit from enhanced trade, investment, and strategic partnerships in the coming years, the officials claimed.

Photo:  New Ziana