Zim exhibits at China Expo

Walter Nyamukondiwa in SHANGHAI, China

At least 15 Zimbabwean companies and organisations are exhibiting at the 6th China International Import Expo (CIIE) in the mega Chinese city of Shanghai, a major gateway for the rest of the world to the Chinese market.

With a population of more than 1,4 billion people, at least 400 million of them in the middle and upper income groups, the Chinese market provides vast opportunities for Zimbabwean companies.

Among the exhibitors are telecommunications company TelOne, the Zimbabwe Investment and Development Agency (Zida) and ZimTrade.

The CIIE, which also combines the Hongqiao International Economic Forum has seen more than 150 countries and 3 400 companies participating.

At least 200 of the companies are participating at the expo for the 6th consecutive year while 300 fall in the Fortune 500 category.

ZimTrade said Zimbabwe was participating at the expo to enhance trade with China and opportunities that may arise with other organisations and countries.

Companies taking part at the Expo running from November 5 to 10 are drawn from the leather industry, processed foods, arts and crafts, telecommunications, mining, energy and tourism.

China has become Zimbabwe’s third largest export market in the last three years.

ZimTrade said the focus has been to increase trade through taking advantage of untapped opportunities.

As part of growing trade, the two countries have consummated protocols in the exports of citrus produce to China.

Zimbabwean companies participated at the China-Zimbabwe Business Forum in Beijing earlier this year in a bid to understand the Chinese market.

At least US$73 billion deals were concluded at the 2022 CIIE edition with more deals to be struck this year following an increase in the number of participating countries and companies.

In his opening remarks, Chinese Premier Li Qiang said CIIE was a vast and open platform which underscored China’s opening up to the world.

Countries, said Premier Qiang, should seek to reduce barriers to trade and shun protectionism and other self serving policies which impede multilateralism and the world’s only chance of economic recovery following sustained shrinking of the global economy which has not recovered from the world financial crisis in 2008.

The world economy faces further headwinds following conflicts between Russia and Ukraine and recently the Israeli-Palestinian conflict in the Middle East.

It is still struggling to shrug off the impact of the Covid-19 pandemic.

China, which imports 47 percent of its requirements, seeks to increase imports to 17 trillion yuan in the next five years.