In an exciting development, more than 15 Zimbabwean businesses are gearing up to participate in the 6th China International Import Expo (CIIE) scheduled to take place in Shanghai from November 5 to 10. This initiative, led by trade development and promotion entity ZimTrade, aims to foster enhanced trade relations between Zimbabwe and China.
ZimTrade is spearheading this endeavor, assembling a diverse group of stakeholders to explore and create promising trade prospects for Zimbabwean companies. The participating companies span various sectors, including leather goods, processed foods, arts and crafts, telecommunications, mining, energy, and tourism, as confirmed by ZimTrade.
Notably, the collaborative partnership between China and Zimbabwe has witnessed significant improvement over the past three years, with China emerging as Zimbabwe’s third-largest export destination. ZimTrade expressed its focus on amplifying trade ties between the two nations, leveraging key trade opportunities.
One landmark achievement in this growing relationship was the signing of a citrus protocol in 2022, facilitating the export of high-demand citrus produce to China. Additionally, Zimbabwean companies embarked on a journey to Beijing earlier this year, attending the China-Zimbabwe Business Forum to explore export opportunities and gain deeper insights into the Chinese market.
ZimTrade emphasized the importance of the China-Zimbabwe Business Forum as a foundational step towards understanding market dynamics and identifying in-demand products that Zimbabwe can provide.
The CIIE ranks as one of the world’s premier import-themed international expos, with the objective of opening up China’s domestic market to global partners. In this context, ZimTrade views the CIIE as a golden opportunity for Zimbabwe to leverage market intelligence and strategically promote sought-after products in the Chinese market.
The organization is now focused on leveraging the platform at the China International Import Expo to showcase sectors with significant potential in the Chinese market.
Highlighting the pivotal role played by the Chinese market in Zimbabwe’s economic growth, ZimTrade noted substantial Chinese investments in areas such as agro-processing, mineral extraction, beneficiation, industrial technologies, and manufacturing.
In terms of trade statistics, 2022 saw China importing goods valued at $1.3 billion from Zimbabwe, while Zimbabwe imported goods worth $1.13 billion from China. This highlights a mutually beneficial trade balance between the two nations, underscoring the commitment to enhancing bilateral business exchanges.
ZimTrade remains dedicated to improving trade between Zimbabwe and China, with ongoing efforts to expand business partnerships and strengthen economic ties.