Zambia: Zambia determined to strengthen China trade ties

Vice President George Kunda has reiterated Government s determination to strengthen trade relations with China.
Mr Kunda disclosed that Zambia was encouraging and facilitating Chinese investment in the country aimed at setting up financial banking institutions and pledged Government s continued support to the Bank of China based in the country in an effort to ensure that it equally spread its operations to other parts of the country.
Speaking when a Chinese Business delegation from Bank of China led by its Vice Chairman, Li Jun called on him at his office in Lusaka on Monday, November15 2010, the Vice President noted that the New Chinese Bank in Zambia had already invested a lot in the country and was contributing to the economy.
He added that the Zambian government had provided conducive environment in the banking sector which he observed was contributing to the country s economic development.
The Vice President also disclosed that some of the agreements that the Zambian Government entered into with the Chinese government was to introduce Chinese airlines direct into Zambia.
During the same meeting, delegation leader Jun expressed gratitude to the Zambian government for the favourable environment that the country had put in place to enable operations of financial institutions.
Mr Jun noted that the Bank of China was happy to start networking with Zambia and African economies and also paid tribute to the Bank of Zambia (BOZ) for the supervision rendered adding that steady growth in the economy had been recorded.
He explained that BOZ had injected more capital to strengthen the performance of the Bank of China in Zambia and noted the need to have more foreign investment in Zambia .
Meanwhile, Chinese Ambassador to Zambia Li Qiangmin described Bank of China as a big and famous state -owned Bank in China ranked Number seven in the World.
The Ambassador noted that Zambia was the first country to have a branch of Bank of China in Africa and commended the Zambian government for supporting the Bank.
[ZANIS]