Brian Mwale
ZNBC News
Zambia and China have agreed to establish an investment cooperation working group mechanism to promote investment cooperation in areas such as digital economy and green development.
China has encouraged more Chinese businesses to invest in Zambia’s manufacturing sector through partnerships in order to create more jobs and fulfill social responsibilities.
And the Zambian side has pledged to further improve its business environment and provide facilitation for Chinese businesses’ investment and operation in Zambia by establishing one-stop service platforms and other means.
In a communiqué issued to ZNBC to mark the end of President HAKAINDE HICHILEMA’s state visit to China, the two countries have agreed to strengthen the development of economic cooperation zones, support the upgrading of those economic cooperation zones in ZaMbia into industrial chain and supply chain cooperation demonstration zones.
The two countries have also agreed to implement the Joint Statement on Deepening Agricultural Cooperation and Ensuring Food Security.
While Zambian will provide necessary support for Chinese investment in the country’s agriculture sector, China on the other hand is encouraging Chinese businesses to participate in cooperation throughout the industrial chains of agricultural products and in
est in production of fertilizers, pesticides and agricultural machinery in Zambia.
The two countries are also encouraging the use of national currencies in trade and investment, and help businesses of both countries reduce costs of currency exchange and lower exchange rate risks.
The communiqué notes that the two countries will also create a favorable policy environment for promoting settlements in local currencies and support a greater role of the Chinese Renminbi -RMB- settlement bank in Zambia.
In the textile industry, the two countries have noted that a redeveloped Mulungushi Textiles factory with modern efficient technology will align with the Zambian Government’s development strategy of industrialization and promotion of agro-processing and val
e-added exports to China.
This has been noted to be key in job creation and poverty alleviation especially among the rural communities engaged in cotton growing.
And China has applauded Zambia’s historic political stability and peaceful and friendly relations with countries in the region.
The Asian nation has also commended Zambia’s achievements in economic development and improvement of people’s livelihood under President HAKAINDE HICHILEMA’S leadership.
China believes that Zambia under President HICHILEMA’S will fully implement the 8th National Development Plan and attain economic transformation in order to deliver a better life for its people.
The Chinese side recognized that President HICHILEMA will play a bigger and more positive role in safeguarding regional and global peace and development.
Chinese President XI JINPING has since congratulated President HICHILEMA and support his assumption to the Chair of COMESA and Chair of the SADC Organ on Politics, Defense and Security Cooperation.
Meanwhile the communiqué notes that Zambia appreciated the Global Development Initiative proposed by President XI JINPING, which has steered countries to put development back to the core of the international agenda and accelerated the implementation of the
N 2030 Agenda for Sustainable Development.
The two countries note that next year marks Zambia’s 60th anniversary of independence and 60th anniversary of the establishment of diplomatic ties with China.
This has been observed as an pportunity to bring into full play the political leading role of the head-of-state diplomacy, keep the momentum of high-level exchanges and dialogue, enhance political mutual trust and consolidate the political foundation for th
bilateral relations.
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