Zimbabwe: Sino-Zim Trade Hits Record Levels

25 November 2024

-China trade hit a new record of US$1,7 billion last year, up from US$973 million in 2019.

The two countries have formalised a protocol for the export of citrus and avocados, chillies, sesame and blueberries.

Blueberry exports had an impressive annual growth rate of 108 percent over the past five years, the highest in Southern Africa.

Zimbabwe's peas are gaining traction in Europe where the country ranks as the third largest African exporter and seventh globally.

Tobacco, macadamia nuts, fruits, vegetables and minerals are also exported to China.

Speaking at a Zimbabwe-China business forum held in Harare last Thursday, ZimTrade chief executive officer Mr Allan Majuru said the trade promotion body was spearheading increased production of other high value crops including nuts and coffee targeting global markets.

"The opportunity for Chinese businesses to support Zimbabwean agriculture is vast, from technology transfer and mechanisation to irrigation and sustainable practices. Climate-smart agricultural technologies are particularly important, as they will allow Zimbabwean farmers to improve productivity and resilience in the face of climate change.

Investments in areas such as horticulture and high-value crops like macadamia nuts, avocados, and citrus fruits will not only boost Zimbabwe's export portfolio, but will also provide a steady and reliable supply of premium produce to the Chinese market," he said.

Total trade between China and Africa reached an all-time high of US$282 billion last year, with African exports to China amounting to US$109 billion.

At the same event, Energy and Power Development Minister Edgar Moyo, who was represented by his deputy Yeukai Simbanegavi, said the Government had recognised the need to address energy challenges by calling for innovative solutions and partnerships to expand energy infrastructure capacity.

"Our Government has made significant strides in addressing some of these challenges. Zimbabwe's installed power generation capacity currently stands at 2 000 megawatts with major contributions from hydro and thermal sources," he said.

The Hwange Power Station Expansion Project, a US$1,5 billion investment under the Zimbabwe-China partnership, has added 600 megawatts to the national grid reflecting China's commitment to assisting Zimbabwe in achieving energy security.

Ministry of Tourism and Hospitality Industry chief director Ms Tarirai Musonza said from January to September this year, Zimbabwe saw an 11 percent increase in tourist arrivals, rising from 1 087 445 in 2023 to 1 202 405 in 2024.

She said overseas markets showed strong growth with a 29 percent increase in arrivals compared to the previous year. Arrivals rose from 298 772 to 385 312 in the first nine months of 2024.

Chinese Ambassador to Zimbabwe Zhou Ding said more companies from his country would come to take up opportunities in the local market, taking advantage of the good relations that existed between Harare and Beijing.

"Zimbabwe should continue to produce a favourable and conducive environment for business to attract more foreign investors from China and also other countries. Zimbabwe is in need of foreign investment and I am glad it has successfully attracted more investors from China.

"In future, there will be more investments from other parts of the world. As embassies we facilitate investment cooperation. Zimbabwe has a better business environment to be involved in and more investors are coming from other parts of the world," he said.

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