China-Zambia Trade and Investment Cooperation: All weather, All dimensional, High Quality

2022-09-30 17:00

By Mr. Du Xiaohui, Chinese Ambassador to Zambia

Following the successful phone call between His Excellency President Xi Jinping and His Excellency President Hakainde Hichilema this May, the two heads of state reached important consensus on strengthening and consolidating China-Zambia friendship as well as expanding mutually beneficial partnership. Under the personal care and guidance of the two heads of state, The China-Zambia Trade and Investment Forum, held at China-aid Kenneth Kaunda Wing of Mulungushi International Conference Center from September 28th to 29th, achieved a complete success.

With the keynote speech and positive remarks by His Excellency President Hakainde Hichilema, the signing of exchange letters, granting duty-free treatment to Zambian products exporting to China that covers 98% of tariff lines, and more than 300 Chinese and Zambian entrepreneurs attending the Forum at the Kenneth Kaunda Wing and 90 Chinese companies attending online, the Forum achieved the goal of building a new platform, gaining new momentum, and exploring new possibilities for practical bilateral cooperation, interpreting the theme of the Forum  “All weather, all dimensional and high quality”.

All-weather demands collaboration from both countries. The all-weather friendship withstood the challenges of international changes. With the Covid-19 pandemic and the Ukraine crisis far from the end and global economic recovery sluggish, the external environment is experiencing "bad weather". In the future, the China-Zambia relationship may experience "bad weather " caused by third parties or other external variables. As President Xi Jinping stressed during the phone conversation, both China and Zambia are developing countries and it is China's long-term and steadfast strategic choice to build solidarity and cooperation with Zambia and other African countries. Under the strategic direction of the two heads of state, China and Zambia should further develop political mutual trust and cooperate more closely through thick and thin, in the spirit of "mutual respect, equality, mutual benefit and common development, giving priority to greater good and promoting greater good through seeking benefit." The two countries will actively increase trade and investment, tighten our practical cooperation, and never forget to uphold international fairness and justice, the UN Charter, the unity of developing countries, and shared support for each other's core interests, to make the "all-weather" friendship more strategic.

All-dimensional demands a long-term perspective. The docking between development strategies, concepts, and future of the two countries is the foundation of all-dimensional collaboration. The 20th National Congress of the Communist Party of China will be convened in the following month, which will draw a blueprint for China's development for the next 30 years. China is prepared to collaborate with Zambia to actively carry out President Xi Jinping's proposed “Belt and Road” Initiative, Global Development Initiative, and Global Security Initiative. China will unswervingly promote opening up and provide Zambia the growth potential with a unique unmatched single market of 1.4 billion consumers. Zambia has started implementing the Eighth National Development Plan (8NDP) under the direction of His Excellency President Hichilema, in an effort to achieve economic and social transformation and improve people's standard of living through initiatives in four strategic areas: economic transformation and job creation, human and social development, environmental sustainability, and good governance environment. The purpose of both China's and Zambia's development programs is to fulfill peoples' aspirations for a better life. During the Forum, the political and commercial representatives from China and Zambia held in-depth discussions on issues including boosting trade and investment, the "Belt and Road", mining, emerging sectors, and agriculture, which explored new opportunities for China-Zambia trade and investment cooperation, and encouraged the two countries to embrace each other and the future in all dimensions.

High quality demands unremitting efforts. So far, more than 600 Chinese businesses have already invested more than US$3 billion in Zambia, creating 50,000 local jobs. The bilateral trade volume was $3.76 billion in the first half of 2022, up nearly 40% compared to the same period of 2021, where Zambia enjoyed a surplus of US$2.92 billion. When facing successes, it is extremely important to maintain composure and think deeply on the ideas, frameworks, policies, models, and pilot projects of high-quality cooperation. China will uphold the new development concept of innovative, coordinated, green, open and shared development in the new development stage, which will serve as a guide for China-Zambia practical cooperation to achieve high-quality development. China is willing to make joint efforts with Zambia to continue to provide solid infrastructure conditions for three multi-functional economic zones related to China, to make them platforms for new Chinese investment in Zambia. Confidence of investors will increase with an appealing investment preferred policy framework and a reliable investment safeguard. As the achievements of the Forum, the Embassy has compiled two books, the Comprehensive Guide to Investing in Zambia and Yellow Pages of Chinese Enterprises in Zambia, which include the current incentives and China anticipates more encouraging measures soon. China supports PPP and other high-quality and practical cooperation models proposed by His Excellency President Hichilema. High-quality development also requires flagship pilot projects, such as revitalization of the TAZARA under the “Belt and Road” Initiative and possible intent of investment from renowned Chinese companies such as CATL, BYD and CMOC.

Long as the journey is, we will surely reach our destination when we stay the course together. Let us work together to implement the significant consensus reached by the two heads of state, to promote the all-weather, all-dimensional, and high-quality trade and investment cooperation between China and Zambia to bear new achievements in the new era.

EMBASSY OF THE PEOPLE'S REPUBLIC OF CHINA IN THE REPUBLIC OF ZAMBIA All RIGHTS RESERVED