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Zimbos to participate in China trade fair

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Zimbabweans will participate at this year’s 15th session of China International Fair for Investment and Trade (CIFIT) that is scheduled from September 8 to 11 in Xiamen.

The event is the world’s largest for international investment promotion which has three major activities namely investment and trade exhibition, international investment forum, and serial seminars on investment issues and matchmaking symposia.

The delegation will include participants from agriculture, mining, manufacturing, tourism, financial and other sectors of the economy.

“CIFIT offers optimum opportunity for business people across the globe to get a bird’s eye view on the investment climates in China and other countries and ensures one-stop-shopping service for multilateral investment cooperation, thereby allowing investors to select from the widest range of investment projects and business people,” CIFIT said in a statement.

“The Ministry of Industry and Commerce in collaboration with other government arms is inviting economic players across sectors to participate at this year`s edition of CIFIT.

“The event provides a platform to the business community to search for both market and investment opportunities, identify potential business partners and source new technologies,” said CIFIT.

Last year, the country exports to China were $167 million while imports were at $228 reflecting a negative trade balance of $61 million.

China is now one of the major investors in the country currently participating in mining, construction and the retail sectors of the economy.
Tobacco and Cotton were Zimbabwe’s major exports to China.

According to the Tobacco Industry and Marketing Board the country’s flue cured tobacco is being bought mainly by China which has a big apetite for tobacco.

Zimbabwe’s agriculture sector, in particular the tobacco sector, has received funding from China for contract farming.

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