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CHINA PUMPS USD $260 MILLION INTO THE ZAMBIAN ECONOMY

Li Jie

Chinese Ambassador to Zambia Li Jie

CHINESE Ambassador to Zambia Li Jie has disclosed that China has this year invested USD $260 million into the Zambian economy.

Speaking during a consultative meeting with Finance Minister Bwalya Ng’andu in Lusaka on Friday, August 9, 2019, Jie said the money has been invested in various sectors of the economy.

He said the trade between Zambia and China would continue to increase in the medium to long-term.

The Ambassador said the increasing interest expressed by international investors in the Zambian economy reflected the enabling nature of the country’s business environment.

“In 2018, bilateral trade was in excess of USD $5 billion of which over USD $4 billion were Zambia’s exports to China and US$800 million represented imports from Asia’s heavyweight economy.  After Kenya, Zambia is China’s second largest trade partner in Africa,” Jie said.

Jie also said China will continue to contribute to the implementation of developmental projects in Zambia.

He said infrastructure, built through the partnership of the two countries, would contribute to the attainment of the goals set in the Seventh National Development Plan (7NDP) and consequently to Zambia’s economic growth.

He reaffirm China’s readiness to help revitalise the Tanzania Zambia Railways (TAZARA), a joint venture transport company between Tanzania and Zambia constructed with support from China.

Meanwhile, Ng’andu appealed to Japan and other development partners for committed support in areas such as education, health, capacity building and social welfare.

The Minister said the Forum for China-Africa Cooperation offered opportunities for Zambia to benefit in the areas of agriculture, infrastructure, energy, tourism and provincial development.

He added that climate change is impacting gravely on Zambia and hence the gradual movement of the agriculture belt to the northerly regions of the country where rain and water bodies are in abundance.


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Zambia-China Trade Li Jie bwalya ng'andu