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Visiting Chinese trade delegation in Lusaka, capital of Zambia, on
Monday signed with local enterprises a basket of contracts, buying goods
worth $200 million.

Entrepreneurs from both China and Zambia also hammered out cooperation
intentions of US$300 million to further explore business potentials in
the Southern African country.

Speaking at the signing ceremony, Sebastian Kopulande, Chairman of
Zambia-China Business Association, hailed Chinese investment in Africa,
saying that it is a clear testimony that the Asian giant is fulfilling
promises it made at the at the Beijing Summit of Forum on China-Africa
Cooperation held in November 2006.

“This event serves as testimony of the resolve by China to cooperate
with Africa, and Zambia in particular, in our common quest to advance the
welfare of the peoples of the two countries through economic
partnership,” Kopulande said.

“It is also a recognition by our two governments that meaningful
bilateral economic relations can only be sustained through direct
business-to-business interaction,” he said.

Also speaking at the signing ceremony, Zambian Commerce Minister Felix
Mutati urged local business community to deepen partnership with their
Chinese counterparts.

He hoped that by partnering with China, Zambian will be able to fill
the wealth gap and grow into a developed force.

Mutati also said Zambia is eager to export value-added products rather
than raw materials and China is the one that is to help Zambia
accomplish that goal.

The minister, who will lead a trade delegation to China, said through
close cooperation with Chinese enterprises, Zambian companies are able
to reap more contracts.

“I am sure, by doing that, when you come back from China, you will come
back, smiling,” Mutati said.

A Chinese trade delegation, headed by deputy Chinese Commerce Minister
Gao Hucheng, jetted in Zambia on February 24 in a bid to expand the
cooperation in economic and social sectors between the two countries.