China, Zambia To Perform Well on Vital Econimic Sectors
Separator

China, Zambia To Perform Well on Vital Econimic Sectors

Separator

President Xi Jinping stated that China supports Zambia's national sovereignty, security, and development interests, as well as encouraging greater imports from the southern African country. Xi met Zambian President Hakainde Hichilema in Beijing, and the two nations' ties were upgraded to a "comprehensive strategic cooperative partnership,". Xi pledged to collaborate with Zambia to boost infrastructure, agriculture, mining, and sustainable energy cooperation.

Zambia is seeking to restructure its external debt with China and find more trade opportunities with the world's second-largest economy. Hichilema thanked China for supporting the African Union's accession to the Group of 20 major economies at its Sept. 9-10 summit in New Delhi, and for its positive role in resolving Zambia's debt problem, Xinhua said, as per reuters.

It was unclear whether China and Zambia had signed any debt arrangements. According to data gathered by the American Enterprise Institute think tank, China has major business interests in Zambia, having invested in over 30 projects through its Belt and Road Initiative between 2014 and 2023.

It reveals that the projects totaled $11.3 billion and ranged from the energy sector to agriculture and aviation. China also consumes almost one-fifth of Zambian exports, primarily copper.

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