Zambia, China Sign Competitive Products Export Deal

Zambia, China Sign Competitive Products Export Deal

From Zambia Daily Mail

Zambia has signed three memoranda of understanding (MoUs) for purchase contracts with Chinese firms amounting to US$700 in various sectors to promote export of competitive products to regional and international markets. The purchase contracts were signed during a Zambia-China match-making meeting at Golden Peacock Hotel in Lusaka on Friday.

Director in the department of foreign trade in the Ministry of Commerce in China, Chang Hui led an eight-man delegation comprising managers from China’s State-owned companies. Mr Chang said during the meeting that China is ready to work with Zambia to increase balanced and sustainable trade between the two countries.

He said the fact that the two countries had signed agreements within the framework of the Forum on China-Africa Co-operation means that China will carry out a zero-tariff treatment to 95 percent of tax items imported from Zambia. The zero-tariff treatment came into effect on July 1, this year.

Read more at daily-mail.co.zm