adminAfrica Investment Forum in Shanghai and Hangzhou later this month.
The country already enjoys good economic ties with Beijing with over US$1 billion Chinese investments destined for Zimbabwe having been approved in the last decade.
The forum, to be held under the theme “21st Century: The Era of Africa”, will draw participants from over 500 Chinese companies, government representatives, the private sector and academics, among others.
It is being organised by Touchroad, a leading global investment agency. The investment mission to China is in line with the objective of the recently launched Medium Term Plan which seeks, among others issues, to harness the flow of foreign direct investments into the country.
The five-year blueprint was crafted in line with experiences of growing economies such as Brazil, Russia, India and China, also refereed to as BRICS.
A few weeks ago, a business mission led by Vice President Mujuru’s Office was in Brazil on a similar business mission to appraise the Brazilian investor community on opportunities in Zimbabwe.
Economic Development and Investment Promotion Minister Tapiwa Mashakada will lead the Zimbabwean delegation, which includes several companies from the public and private sectors and Government departments.
“We have a strategic delegation that will showcase what Zimbabwe has to offer.
“The forum will also discuss the future prospect of China-Africa co-operation and investment opportunities in Africa with a view to promoting more Chinese investment to Africa,” said Minister Mashakada.
During the forum, Minister Mashakada will chair a plenary session on investment opportunities for Chinese enterprises in Zimbabwe.
Trade relations with China present vast opportunities for Zimbabwe.
According to a report by the Zimbabwe Economic Policy Analysis and Research Unit on Sino-Indo-Africa trade and investment relations, imports from China are 75 percent cheaper than those from
Zimbabwe’s traditional markets such as Europe and America.
China’s economic relations with Harare are enshrined in the broader Forum on China-Africa Co-operation established in 2000, which recognises the need to promote Sino-Africa economic relations.
Consistent with the policy, FOCAP, by 2009, China had signed bilateral promotion and protection agreements on investment with 45 Africa nations.
The Asian giant also approved 16 African countries, including Ethiopia, Kenya, Uganda and Zimbabwe as prime destinations for Chinese tourists.
In terms of Zimbabwe, China has several trade and investment promotion agreements in various sectors signed under the auspices of joint commissions.
Sino-Zim trade has been growing since 2000. Exports to China rose from US$100 million, peaking at US$167 million in 2003 before falling to US$140 million in 2009.
Imports from China went up from US$30 million between 2000 and 2003 to US$197 million in 2007 and fell to US$132 million in 2008.
Exports to China are largely in the form of raw materials, with tobacco being the major product. Zimbabwe also exports minerals to China.
Online Reporter