Headlines

You are here: Home > Media Center > Headlines

Telephone meeting between presidents of China and Zambia & overview of China-Zambia economic and trade cooperation

Released on:2020-07-22 Views:

Chinese President Xi Jinping held a telephone meeting with Edgar Lungu, President of Zambia on the evening of July 20.

 

Xi Jinping pointed out:

The coronavirus disease 2019 (COVID-19) is a grim crisis and test for the world. In the face of the pandemic, China and Africa have firmly stood together, supporting each other and joining hands in the fight. African countries including Zambia offered invaluable support to China in the early days of its epidemic fight. China, who empathized with the African countries when they were hit by the pandemic, took the lead in providing support and anti-pandemic supplies as well as in sharing the experience in pandemic prevention and control so as to help enhance their capacity and level of pandemic prevention and control. I have repeatedly called for increased support for African countries. China is stepping up the implementation of related measures and will continue to do its best to help Zambia and other African countries in their efforts to fight the disease and restore economic and social development. I believe that the normal life and work of Chinese nationals and operations of Chinese enterprises in Zambia will continue to be guaranteed by the Zambian side.

 

Xi Jinping stressed:

In recent years, the friendly and cooperative relations between China and Zambia have maintained a good momentum, and they have supported each other on issues concerning each other's core interests and major concerns. Although the pandemic has brought difficulties to face-to-face bilateral exchanges, the solidarity and cooperation between China and Zambia have been advancing. China stands ready to work with Zambia to tide over the difficulties, implement the outcomes of the Extraordinary China-Africa Summit on Solidarity against COVID-19, and figure out flexible and diverse ways to steadily advance bilateral cooperation while striving to bring the COVID-19 outbreak under control. The two countries should step up coordination and cooperation to firmly defend international fairness and justice, uphold multilateralism, and safeguard the legitimate rights and interests of developing countries. I believe that the two countries' joint fight against the pandemic will help lift China-Zambia relations to a higher level, better benefiting the two peoples.

 

Lungu said:

Zambia highly values its friendship with China and is grateful for China's enormous and precious help to Zambia's economic development over the years. Zambia speaks highly of Xi's proposals made at the Extraordinary China-Africa Summit on Solidarity against COVID-19 and thanks China for its support to Africa's anti-virus fight. I also believe that China's successful anti-pandemic experience and achievements in vaccine and medicine research and development will help step up African countries' confidence and play a significant role in their fight to beat the virus. China is a great friend of the Zambian people. Zambia will firmly stand together with China on issues regarding its core interests, staying committed to its adherence to the one-China policy and firmly supporting the Chinese government's legitimate position and measures on the issues related to Hong Kong and Xinjiang, among others. Zambia welcomes investment from Chinese enterprises and is willing to conduct close communication and coordination with the Chinese side and work together to strengthen multilateral cooperation and safeguard the common interests of developing countries.

 

 

 

Overview of China-Zambia economic and trade cooperation

 

1967

The two countries signed a trade agreement.

 

1976

In July, the Tanzania-Zambia Railway was completed and opened to traffic. It was officially handed over to the governments of Tanzania and Zambia on the 14th of the same month. The Tanzania-Zambia Railway is one of the largest complete foreign-aid projects of China.

1986

The Agreement between the Government of the People's Republic of China and the Government of the United Republic of Tanzania on the Establishment of a Joint Economic and Trade Commission was signed.

 

1996

The Agreement between the Government of the People's Republic of China and the Government of the Republic of Zambia Concerning the Encouragement and Reciprocal Protection of Investments was signed.

2005

Since January 1, China has exempted part of Zambia's exports to China from customs duty.

 

2007

In February, the Zambia-China Economic & Trade Cooperation Zone was unveiled.

China lifted the number of tax items of duty-free imports from Zambia to 466 from July 1.

 

2009

In January, the Lusaka Zone of the Zambia-China Economic & Trade Cooperation Zone was unveiled.

In June, China Nonferrous Metal Mining (Group) Co., Ltd. (CNMC) purchased an 80% stake in the discontinued Luanshya Copper Mines in Zambia through international bidding.

 

2010

The two countries signed the Agreement between the Government of the People's Republic of China and the Government of the Republic of Zambia for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income.

In May, the two countries signed the Exchange of Notes on China Offering Tariff Exemptions on 60 Percent of Zambia's Exports to China.

 

2011

The trade volume between the two countries was USD 3.395 billion, up 17.7% year on year. China's export and import volume were USD 617 million and USD 2.778 billion, respectively.

 

2012

The trade volume between the two countries was USD 3.378 billion. China mainly imported copper from Zambia and exported mechanical and electronic products and iron and steel products to Zambia.

 

2013

From January to November, China's direct investment in Zambia increased by USD 177 million and the investment scale kept expanding. The total value of new contracts signed in Zambia was USD 1.999 billion and the completed turnover was USD 1.206 billion.

 

2014

China's non-financial direct investment in Zambia totaled USD 110 million. The total value of new contracts signed in Zambia was USD 1.48 billion and the completed turnover was USD 1.31 billion.

 

2015

In September, the People's Bank Of China signed a memorandum of cooperation on renminbi clearing arrangement with the Bank of Zambia.

 

2016

According to statistics, from January to April, the total bilateral trade volume was USD 987 million, up 15.47% year on year, ranking 12th in Africa. China's non-financial direct investment in Zambia increased by USD 101.81 million, up 38.14%, ranking 1st in Africa. The total value of new contracts was USD 1.355 billion, up 204.17%, ranking 4th in Africa. The completed turnover was USD 457 million.

 

2017

In the afternoon on July 28, Sichuan Province and Lusaka Province of the Republic of Zambia signed a memorandum on the establishment of friendly and cooperative relations in Chengdu.

 

2018

On September 2, at the Zambia-China Business Forum held in Beijing, Chinese enterprises reached about USD 1.47 billion of cooperation projects with Zambia. The China-Zambia bilateral trade volume surpassed USD 5 billion for the first time, up 33.9% year on year, with Zambia's surplus exceeding USD 3 billion.

 

2019

A total of USD 507 million was directly invested in Zambia by Chinese enterprises. In terms of project contracting, the value of new contracts signed by Chinese enterprises in Zambia was USD 2.209 billion and the completed turnover was USD 2.575 billion.

 

END


Sources: the website of the Ministry of Foreign Affairs, the website of the Ministry of Commerce, the website of the Economic and Commercial Office of the Embassy of the People's Republic of China in the Republic of Zambia, People's Daily, Xinhuanet, China Economic Net, Chinanews.com, scdaily.cn, etc.


Source: the website of the Ministry of Foreign Affairs, the website of the Ministry of Commerce , etc.