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The total import and export volumes between China and Zambia has surged to 36. 9 percent, hitting US$5.884 billion in 2022.
This represents the total import and export between countries for the period January to October 2022, according to Chinese Embassy Minister, Counsellor Hao Meng.
Hao pointed out that during the Covid-19 pandemic, China-Zambia economic and trade cooperation did not lose speed, stating that they still maintained a good momentum in trade, investment, infrastructure, construction and other fields.
“From January to October 2022, the total import and export volumes between China and Zambia reached US$5.884 billion, a year-on-year increase of 36.9 percent,” he said.
Hao indicated that in September last year, the China-Zambia Trade and Investment Forum co-hosted by two sides attracted more than 400 Chinese and Zambian.
“China will continue to maintain cooperation with Zambia in sectors such as mining, agriculture, technology and infrastructure among others,” he said.
Hao said this at the Standard Chartered Bank Zambia event to appreciate its Chinese clients in Lusaka on Wednesday.
He said the bank is the oldest international financial institution supporting and participating in the growth prospects of both countries as a trusted partner with broad international network and deep local knowledge of both countries.
Hao said Zambia and China as countries have enjoyed good partnership since 1964.
He said there have been extensive trade relations between the two countries, with many businesses in China and Zambia having leveraged on the bank’s international network capabilities to expand and prosper.
“The bank’s international network has supported major projects and has helped to support Chinese clients expand their overseas sales network by providing financial support so that clients can trade with local buyers.
“We also note that bank’s involvement in projects to support Chinese investment in support of the United Nation’s Sustainable Development Goals to which both Zambia and China have subscribed,” Hao said.
Speaking at the same event, Standard Chartered Bank Head of China Corridor Janet Ming highlighted the unique preposition of the bank under the China corridor.
Earlier, Standard Chartered Bank Zambia managing director Sonny Zulu reiterated its continued commitment to growing its relationship with its Chinese clients in Zambia.
Zulu said they will continue to deepen links with the Chinese community in relation to the trade corridors backed by the bank’s global footprint in key markets.
Zulu said the bank continues to enjoy good relations with the Chinese clients and pledges to facilitate important deals and transactions.
“We have undertaken several deals and closed a lot of important transactions with Chinese clients. For example in 2021 September, the bank together with an Export Credit Agency supported a term loan facility to a Chinese client in the mining sector worth US$30 million,” he said.
Zulu said this helped to finance and route key mining equipment from top providers in Sweden.
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