Zim-China trade tops $1.1 billion

Zim-China trade tops $1.1 billion
Published: 26 February 2014

Trade between China and Zimbabwe grew to over $1.1 billion last year as the southern African country’s reliance on the emerging Asian giant grows. 

Lin Lin, the Chinese ambassador to Zimbabwe, last week said business traffic between the two countries ballooned from $10 million in 2003 to $1.1 billion last year. 

China has emerged as Zimbabwe's closest international ally after Western countries imposed sanctions on President Mugabe, a decade ago over alleged violations of democracy and human rights abuses. 

Relations between the two countries deepened further  after Zimbabwe adopted a "Look East Policy" in 2003, and since then, China has become a major source of imports as the southern African country's economy recovered from a decade of contraction. 

Trade volumes have largely been driven by China's growing appetite for raw materials while Zimbabwe has mainly exported tobacco and precious minerals.

- dailynews
Tags: Trade, China,

Comments

Latest News

Latest Published Reports

Latest jobs