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Zambia and China sign $64 million deals

Staff writer |
Zambia and China have signed two economic and technical cooperation agreements each worth more than 200 million Chinese Yuan Renminbi ($32 million).

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Finance Minister Alexander Chikwanda signed on behalf of Zambia while visiting Chinese deputy minister of Commerce Li Jinzao signed on behalf of his country.

One of the agreements is a grant, while the other is an interest free loan. The two ministers also signed a framework loan agreement for a concessional loan for the upgrade of the Kenneth Kaunda International Airport.

They also exchanged notes on the adjustment to the Mpika Urban Road Project, borehole drilling project, vocational training supplies, wildlife protection supplies and mass callisthenic technical cooperation project. The signing ceremony took place at Government House in Lusaka and was witnessed by Vice-President Guy Scott and his Chinese counterpart Li Yuanchao.

Vice-President Scott said Zambia had set aside 200 hectares of land for the Chinese Government to set up a memorial park for the people who died during the construction of the Tanzania Zambia Railways (TAZARA). He said Zambia was indebted to China for the cooperation the two countries have continued to enjoy in many sectors including technological transfer.

Mr. Li said China’s trade volume to Zambia had increased to $3.8 billion from $3.4 billion in 2012 because of the level cooperation between the two countries. "The traditional friendship our countries have enjoyed in the last 50 years have grown stronger regardless of the economic situation in the world. We hope our visit will enhance it."

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