Zambia-China Economic, Trade And Tourism Forum Attracts USD 3.2 Billion

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The Zambia Development Agency (ZDA) in collaboration with the Ministry of Commerce, Trade and Industry (MCTI), and the Embassy of the Republic of Zambia in China, facilitated the Zambia – China Economic, Trade and Tourism Forum on the 31st of March in Beijing.

The forum which was supported by the Zambia Tourism Board (ZTB) and the Bank of Zambia attracted 85 Chinese companies, drawn from various sectors including infrastructure, manufacturing, agriculture, energy, mining, and tourism.

The forum saw the signing of a number of bilateral agreements between Zambian and Chinese companies, pledgingUSD 3.2 billion worth of investments.

ZDA facilitated in particular the signing of the bilateral agreement by Buffalo Consortium, a project located in the Chifwema area of Lusaka Rural with approximately 244 million tons of high grade limestone.

A ZDA investment certificate has since been issued with a pledged investment of USD 420 million and facilitation processes are underway.

2014 statistics indicate that approximately 550 Chinese companies are conducting business in Zambia for a total investments exceeding USD 3 billion.