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Zambia China Bilateral Trade Agreement

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Musonda expressed optimism that China will support Zambia by strengthening trade between the two countries. The strong development of the Chinese economy strongly stimulates economic and trade cooperation between China and Zambia. China`s economy has grown from a phase of rapid growth to a high-quality development phase. China`s GDP, the world`s second largest economy, reached $13.6 trillion in 2018, with a growth rate of 6.6%. China remains the world`s largest distributor of goods, with a 9.7% increase in 2018 and a total value of more than $4.5 trillion. The largest engine in many years, China has contributed nearly 30% to global economic growth. As China`s ambassador to Zambia, I feel that Zambia has great potential for development. The country has a tradition of stability, the economy is growing rapidly, society is full of vitality and the livelihoods of the population continue to improve. While I commended Zambia for its progress and the development of China-Zambia relations, I even feel that there are good prospects for our economic and trade cooperation and that the path of mutually beneficial cooperation has become a wider success. In 2018, Zambia`s GDP grew by 4.0%, the consumer price index remained between 6 and 8%, the kwacha currency remained stable. In sub-Saharan Africa, the business environment and the overall level of governance remain at the forefront. Zambia is trying to move towards a middle-income country.

His calls for job creation, poverty alle possible and improved livelihoods are consistent with huge investment and consumer demand, driven by the quality development of China`s economy. Economic and trade cooperation between China and Zambia has broad prospects. He said China and Zambia had witnessed increased bilateral and political trust since the creation of diplomatic relations between the two countries 55 years ago. It is not as if the BIS is beneficial for African countries alone. It will also lead to increased trade not only with African states, but also with other developed nations,” he said. INTERNATIONAL – The Zambian government attaches great importance to its bilateral cooperation with China, which will benefit the people of Zambia through improved economic growth, as announced Monday by an inter-professional organization.

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