China’s President signs 10 investment deals with Zimbabwe

Chinese President Xi Jinping arrived in Zimbabwe on Tuesday, the first visit by a Chinese leader since 1996, amid expectations this would lead to the signing of infrastructure funding and investment agreements.

“China and South Africa relations are at a new historical level”.

Zimbabwean officials were viewing the visit as a vindication of President Robert Mugabe’s “Look East” policy undertaken after he alienated Western countries through rights abuses and alleged vote-rigging since 2000.

China’s overall trade with Africa topped $200 billion last year but has slowed over the past two years as the weakening Chinese economy demands less of the continent’s raw materials, including oil and copper.

Some critics of President Xi’s visit say the economic revival the people of Zimbabwe hope for will not happen, adding that the relationship between Zimbabwe and China is tilted in China’s favor.

The International Cooperation Centre – National Development Reform Commission of China’s director general Cao Wenlian on Monday told a China-Zimbabwe Business Forum that it was considering putting Zimbabwe on priority list of African countries that Beijing targets for investment, alongside Angola, Egypt, Ethiopia, Mozambique and South Africa.

Mr Mugabe and Mr Xi are expected to sign several “mega deals”, said Mr Ping.

China and South Africa on Wednesday have signed 26 agreements in various sectors valued at 94 billion rand (approximately $6.5billion).

South Africa will take advantage of hosting the summit by pushing for progress in existing areas of trade and cooperation between the two nations, and seeking new areas of cooperation, Danish said. In response, President Xi who was speaking through an interpreter, said China placed high premium to its relations with Zimbabwe.

“I think that we’re all in the same boat if you’re a producer in the global economy”, said South Africa’s Minister of Trade and Industry, Rob Davies. United States authorities have said they are not considering lifting the sanction on Zimbabwe till the administration spells out reforms. “It’s a good and welcome development that will help balance the world financial system”, he said.In 2013, Beijing invested $601 million in Zimbabwe projects, more than any other African country, reported Xinhua, the government’s news service.

“China is the largest developing country and Africa is home to the biggest number of developing countries”.

“China has been watching Zimbabwe”.

“We did a study on the Chinese investment in Africa, including China in Zimbabwe on what it has brought to the population and the study does not indicate any benefit except that Chinese have brought unfavourable working conditions”.

In practice, China has been providing great assistance for the African countries over the past 60 years, especially the sub-Saharan African countries, which are facing most difficulties in health, poverty-relief and social stability.