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Zambia’s exports to China climbed to US$4.82 billion as of November 2024, surpassing the US$4.3 billion recorded in 2023, thanks to robust economic and trade engagements between the two nations.
China’s exports to Zambia also rose, reaching US$1.26 billion by November, a 38.2 percent increase from the previous year.
Deputy Ambassador and Minister Counsellor of the Chinese Embassy in Zambia, Sheng Wang, revealed that the total trade volume between the two countries for the period was US$6.08 billion, marking a 21.6 percent growth.
Speaking at the China-Northwestern Province Business Promotion Conference held at Mulungushi International Conference Centre on Tuesday, Wang highlighted China’s direct investment in Zambia, which exceeded US$3.61 billion in 2024, accounting for 52.25 percent of the total committed investment of US$6.92 billion.
This investment facilitated 32,000 jobs through 183 registered Chinese businesses, he claimed.
“2024 was a significant year for China-Zambia relations, marked by milestones such as the 60th anniversary of diplomatic ties and the 75th Anniversary of the Founding of the People’s Republic of China.
Economic and cultural cooperation flourished through platforms like the China-Zambia Business Cooperation initiative,” Wang said.
He acknowledged several trade-enhancing activities, including the February launch of the China-Zambia Business Cooperation, which strengthened economic relations.
At the same event, North-Western Province Minister Robert Lihefu encouraged Chinese investors to explore opportunities in sectors like energy, mining, infrastructure, agriculture, and tourism in the province.
“My province sits within the high rainfall belt, making it ideal for producing crops such as maize, cassava, sorghum, and citrus fruits. We are also the leading producers of pineapples in Zambia and high-quality natural honey from our indigenous forests,” Lihefu said.
He invited investors to take advantage of the region’s untapped potential, including vast virgin lands.
Zambia Development Agency Board Member Mcgerald Mvula echoed these sentiments, urging Chinese investors to leverage investment-friendly policies in the North-Western Province.
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