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Chinese Investment in Zambia increases to US$3bn

The Zambia Chinese Business Association (ZCBA) has disclosed that Chinese Investment in Zambia has increased from US$300 million in 2006 to over US$3 billion at present.

The Association has further disclosed that bilateral trade between Zambia and China has also increased from US$83.2 million in 2000 to in excess of US$4 billion with Zambia enjoying trade surplus.

ZCBA Chairperson Dr. Sebastian Kopulande says Chinese authorities have told the association that its promotional work has had a positive impact on the results, although they cannot be exclusively attributed to the ZCBA.

This was during the live China Import and Export Fair also known as the Canton Fair Video promotional conference in Lusaka today.

Dr. Kopulande has emphasised that Zambian Businesses do not need to be picking crumbs that drop off from the Chinese investor’s tables but that Zambians need partnerships.

He has therefore urged Zambians to address the engagement strategies that they have with China and ensure that they benefit from them.

Meanwhile Government has said that the promotion of trade and commerce cannot be achieved on the domestic market alone, but with regional and international markets.

This is contained in a speech read on behalf of Commerce Trade and Industry Permanent Kayula Siame by the ministry’s Director for Trade Georgina Kasapato.

The Canton Fare runs in April and October every year with the next one slated for the 15th of October to 4th November 2018 in China and it will be the 124th fair to be held.

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