More than 15 Zimbabwean companies will participate in the 6th China International Import Expo (CIIE) to be held in Shanghai from Nov. 5 to 10, with trade development and promotion body ZimTrade hoping to see enhanced trade between the two countries.
ZimTrade will lead stakeholders to the event with the aim of identifying and generating trade opportunities for Zimbabwean companies.
Companies that will take part in the expo have been drawn from the leather industry, processed foods, arts and crafts, telecommunications, mining, energy and tourism, ZimTrade said on Monday.
The organization said the China-Zimbabwe relationship had been improving with China becoming its third-largest export destination within the last three years.
“The focus has been on increasing trade between the two countries, taking advantage of key opportunities in trade,” said ZimTrade. Zimbabwe and China in 2022 signed a citrus protocol, “which has since seen citrus produce, which is in high demand in China, being exported.”
“Earlier this year Zimbabwean companies also went to Beijing for the China-Zimbabwe Business Forum seeking export opportunities and better understanding the Chinese market,” the trade body said.
It added that the China-Zimbabwe Business Forum is a good foundation for developing an understanding of the market and the products in demand that Zimbabwe could offer.
The CIIE is one of the world’s biggest import-themed international expos, aiming to open the Chinese domestic market to foreign countries.
The expo offers “the perfect opportunity for Zimbabwe” to use the information gathered about the market and strategically promote high-demand products to the Chinese markets, the organization said.
“Now the plan is to utilize the platform at the China International Import Expo, to exhibit identified sectors that have potential in the Chinese market,” the organization said.
On the role the Chinese market has played in Zimbabwe’s economic development in recent years, ZimTrade said the growing relationship had seen a lot of investment from China in areas such as agro-processing, mineral extraction and beneficiation, industrial technologies and manufacturing.
It added that statistics showed that in 2022 China imported goods worth 1.3 billion U.S. dollars from Zimbabwe, while Zimbabwe imported goods worth 1.13 billion dollars from China, evidencing a mutually beneficial trade balance between the two countries.
“Trade between the two countries has been improved and efforts are being made to increase business exchange,” it said. – Xinhua