CHINA and Zimbabwe yesterday held a business forum ahead of the visit of Chinese President, Xi Jinping, as the business sectors of the two countries exchanged notes.
by BUSINESS REPORTER
Speaking at the China-Zimbabwe business forum at the International Co-operation Centre, national development reform commissioner of China, Cao Wenlian, said the Chinese delegation was coming for the second time to Zimbabwe after visiting the country in June this year. Wenlian said the team had a discussion with government and initiated bilateral co-operation.
“Finance is challenging for companies, including Chinese companies in Zimbabwe. We are exploring new models for financing,” he said.
Cao said China was working with a team in the financial services sector on the circulation of the Chinese currency, yuan in Zimbabwe and may consider developing models such as the Ethiopian one, where China gives credit and the country may pay back in tobacco for instance.
Cao said China has identified 45 countries in the world and has so far signed agreements on production capacity with five African countries including Angola, Mozambique, Egypt and others. He said if Zimbabwe signed the agreement on production, it will be the sixth country in Africa.
“We are in close discussions with your embassy in Beijing so we have special economic zones (SEZ) and we are looking towards the implementation of SEZ,” he said.
Speaking at the business forum yesterday, Chief Secretary to the President and Cabinet, Misheck Sibanda, said Zimbabwe and China have good economic and political relations and that would be concretised through solid investments in various sectors of the economy.
The meeting was organised for China and Zimbabwe business entities to share notes on investments opportunities.
China and Zimbabwe are major trading partners, with Zimbabwe exporting most of its minerals to Asian nation, which also is the major market for the country’s tobacco.