#Focac: Harare - Zimbabwe has rolled out the red carpet for Chinese President Xi Jinping’s first state visit to the country, starting today and ending tomorrow, with the two countries seeking to cement trade ties and enhance co-operation in other areas such as politics, climate change and military assistance.
After the state visit to Zimbabwe, Jinping is to fly to South Africa tomorrow, where he is expected to officiate at a crucial China-Africa conference. China has become a major trade partner and investor in African countries and now competes with South Africa for economic and investment opportunities in Zimbabwe, which is being shunned by western and other international investors.
“Perhaps, just perhaps, this year, our Father Christmas will be Chinese. Zimbabweans in all walks of life will welcome him, no matter what he looks like,” Eddie Cross, an opposition parliamentarian for the Movement for Democratic Change (MDC) said.
During his visit to Zimbabwe, Jinping is expected to seal investment and other deals between the two countries. Reports show that Chinese companies have upped investments into Zimbabwe from the $600 million (R8.63 billion) registered in 2013. Other Chinese investors have partnered Zimbabwean government corporations in diamond mining, cement manufacturing as well as retailing and cotton farming.
Chinese traders in Zimbabwe are revelling in the glory of their leader’s visit to Harare and some have decorated their shops with their country’s flags.
Finance Minister Patrick Chinamasa said last week that the economy was struggling.
Increasingly dry weather conditions have also jolted the country’s growth and earnings potential from agricultural activities such as tobacco, of which China is a major export market.
“Our growth rate is too low. At 1.5 percent this year and 2.7 percent next year. We should never be content with a gross domestic product of $14bn. It’s so little,” Chinamasa said at a post 2016 budget breakfast meeting.
BUSINESS REPORT