HomeOld_PostsZim-China economic ties growing stronger

Zim-China economic ties growing stronger

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By Netho Francisco

FOREIGN Affairs Deputy Minister Christopher Mutsvangwa has described as malicious claims by some sections of the media that the economic relationship between Zimbabwe and China is a form of neo-colonialism.
Mutsvangwa dismissed as baseless assertions that Chinese investors are exploiting the country’s natural resources through unbalanced partnerships.
According to a report released last month by the Chinese Embassy, trade levels between January and May reached US$716 million, representing a rise of 34,3 percent compared to same period last year.
Speaking during the sidelines of China-Africa symposium, Mutsvangwa said the country attained its independence after a protracted liberation struggle and will never entertain any form of colonisation.
“China has been offering us good and fair economic deals. Those statements regarding neo-colonisation are not true,” said Mutsvangwa.
“Any form of colonisation will not happen again in Zimbabwe.
“We will make sure that we defend our natural resources so that they propel national development.”
Mutsvangwa said Western countries were attempting to derail the successful Look East Policy adopted by Zimbabwe when relations with the West soured.
“These are statement by losers, most towns are vibrant today because of Chinese investors and people should look at this relationship on its own merits,” he said.
“Let us not just try to tarnish a company or a country that has done so much to make Zimbabwe recover from the Western sanctions.
“It has been China that has been very helpful under the look East policy adopted by our President.
“If you do not factor in China today as a major source of capital and business, then you only have to blame yourself if you find yourself at the tail end of development.”
Mutsvangwa said Asia has created more options for investment, a situation that promotes more choices for African countries to choose fair investment partnerships.
“China has brought new dynamics in the last 20 years by emerging as the second largest economy in the world and it has brought new visitors to Africa that have a different approach to development,” he said.
“For too long we have been seen as a continent of pessimism, diseases, pest land, civil wars, but now that picture has changed, Africa now has some of the fastest growing economies in the world.”
Mutsvangwa said there was need for Zimbabwe to create more economic zones that attract Chinese investors to inject more capital in revamping the local manufacturing sector.
“We must put all the economic incentives that we can so that we can attract Chinese capital which is coming out of China looking for new opportunities on the global stage,” he said.
“We must also have special economic zones where big Chinese companies establish their brands in Zimbabwe for the world market.”
Meanwhile, speaking at the same occasion Chinese ambassador to Zimbabwe, Lin Lin said China-Africa cooperation was being portrayed negatively on the international arena, a situation that was disturbing stable progress and development of the relationships.
There are always people observing China-Africa relations through coloured glasses with the Cold War mentality, posing groundless criticism and attacks against China-Africa cooperation,” he said.
“Such practices have disturbed the sound and stable development momentum of China-Africa cooperation.”
However, he said China would continue to foster more win-win relationships with Africa despite attempts by detractors to distort the partnerships.
“I believe that China-Africa relations will see more opportunities than challenges in the coming years,” said Lin.
“This relationship is solidly based on friendship and cooperation.”
Since 2009, Africa has seen a decrease of foreign direct investment, however, the rapid growth of China’s direct investment in Africa is indicative of Africa’s development potential and investment appeal, and also points to mutually beneficial nature of Africa-China cooperation.
From 2009 to 2012, China’s direct investment in Africa increased from US$1,44 billion to US$2,52 billion, with an annual growth rate of 20,5 percent.
Over the same period, China’s accumulative direct investment in Africa increased from US$9, 33 billion to US$21,23 billion.
Many companies in the country are struggling due to lack of capital to boost production.
The challenges being faced are as a result of the illegal economic sanctions imposed against the country by the West after the implementation of the highly successful Land Reform Programme in year 2000.
Over 400 000 black households received land through the programme.
Previously, only 4 000 white farmers owned the country’s prime land.

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