Philemon Jambaya
Zim Now Editor
Zimbabwe and China are deepening their economic ties, with trade between the two nations surging to over US$3 billion since January 2023.
This represents a remarkable year-on-year increase of over 25%, signaling a vibrant and growing partnership.
The China-Zimbabwe Business Day held in Harare on Friday highlighted the immense potential for further collaboration. Key sectors such as horticulture, particularly citrus and macadamia, were identified as promising areas for increased exports to the Chinese market.
However, challenges such as access to finance and capacity building remain hurdles to be overcome. Local banks are urging businesses to improve their financial structures to attract investment and facilitate entry into global markets.
The China-Zimbabwe Exchange Centre emphasized the importance of diversifying Zimbabwe's export base beyond tobacco, which currently dominates exports to China. While tobacco remains a significant contributor, the center is encouraging local businesses to explore new opportunities and tap into the vast Chinese market.
China's commitment to strengthening its economic relationship with Zimbabwe is evident through its pledge to send more business delegations to the country.
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