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Francis Gakanje
NATIONAL trade promotion and development body, ZimTrade, says the volume and value of trade between Zimbabwe and China continues to grow exponentially, including in key areas like machinery, manufacturing equipment and agriculture.
After seeing trade between the two friendly nations climb from US$973 million in 2019 to US$1,7 billion in 2023, it has risen to US$3 billion in the first nine months of this year.
This also comes on the back of significant overtures from Chinese companies interested in partnerships to supply machinery and a variety of products to Zimbabwe. With the growth in trade in finished goods, machinery, manufacturing and minerals remaining on an upward trajectory, new trade avenues are opening in agricultural produce.
Speaking at the Zimbabwe-China Business Forum held in Harare yesterday, ZimTrade chief executive officer (CEO) Mr Allan Majuru highlighted some of the positive developments in the area of trade, including agriculture, between Zimbabwe and China.
He said to expand their burgeoning trade and economic ties, the two nations recently inked a protocol for exporting citrus and avocados, to be complemented soon by additional protocols for products like chillies, sesame seeds and blueberries.
“Zimbabwe’s blueberry exports have been particularly noteworthy, achieving an impressive annual growth rate of 108 percent over the past five years, the highest in Southern Africa,” according to Mr Majuru.
According to ZimTrade, Zimbabwe ranks as the second-largest exporter of blueberries in Southern Africa, behind neighbouring South Africa.
Further Zimbabwe’s peas exports are gaining traction in Europe, where the country ranks as the third-largest African exporter and seventh globally.
Speaking at the same event, the Chinese Ambassador to Zimbabwe Zhou Ding said, “Despite the illegal sanctions, climate-induced drought, and stagnant world economy, Zimbabwe has scored many successes in increasing its domestic production and attracting massive foreign investment.”
He said Zimbabwe’s economic growth was 5,3 percent in 2023, making it one of the fastest-growing economies in Southern Africa.
The country’s exports, cutting across various agricultural produce and minerals, surged by 10 percent year-on-year in 2023 to US$7,2 billion.
Mr Majuru said ZimTrade was actively working to enhance the production of high-value crops like nuts and coffee to grow its shipments into global markets, including China.
“The opportunity for Chinese businesses to support Zimbabwean agriculture is vast, from technology transfer and mechanisation to irrigation and sustainable practices.
“Climate-smart agricultural technologies are particularly important, as they will allow Zimbabwean farmers to improve productivity and resilience in the face of climate change,” according to Mr Majuru.
ZimTrade noted that investments in sectors like horticulture and high-value crops, including macadamia nuts, avocados, and citrus fruits, would enhance Zimbabwe’s export portfolio while ensuring a consistent and reliable supply of premium produce to the Chinese market.
Apart from trade in finished goods and minerals, Ambassador Ding said Chinese companies had actively engaged in technology transfers, skills training, and talent acquisition in Zimbabwe.
These initiatives are leading to increased tax revenue and job creation, which directly results from Chinese investments in Zimbabwe.
“It is also very heartening to see that our trade volume continues to expand, reaching US$3 billion in the first nine months of 2024, close to the whole year’s figure of 2023.
“Zimbabwe exported US$2,1 billion to China and imported US$951 million worth of goods, achieving a trade surplus of more than US$1 billion,” added Ambassador Ding.
In a speech read on his behalf by chief director, economic cooperation, international trade and diaspora Mrs Rudo Faranisi, in his ministry, the Minister of Foreign Affairs and International Trade, Professor Amon Murwira, said that efforts were underway to facilitate the export of additional agricultural products to China.
“Trade between our two countries in horticultural products is set to further increase following the conclusion of the protocol for phytosanitary requirements for the export of avocados to China, which was signed during the just-ended Forum on China–Africa Cooperation (FOCAC) summit,” said Minister Murwira.
He noted that Zimbabwe was focused on developing a vibrant and open economy that offers opportunities for investors and traders as the country aims to become a knowledge-driven, substantially industrialised upper-middle-income economy by 2030.
“This transformation is achievable if we deepen our economic cooperation with the People’s Republic of China as our strategic partner for the mutual benefit of all societies and economies, in which our people enjoy prosperous, healthy, and fulfilling lives,” she said.
Online Reporter