CHINESE Premier Li Qiang will arrive in Lusaka on Wednesday for the first visit by a Chinese premier to Zambia in 28 years, as Beijing seeks to strengthen ties with the copper-rich nation following its emergence from financial crisis, said Reuters.
China holds $5.7bn of Zambian debt, making it the country’s largest official creditor. The visit aims to deepen relations in a strategically important state where Europe and the US are competing for influence now that Zambia’s $13.4bn debt burden has been restructured onto a more sustainable footing.
Chinese ambassador Han Jing said Li’s trip would yield dozens of cooperation agreements, emphasising China’s role in Zambia’s economic transformation, said Reuters.
Zambia requires fresh capital for mining, infrastructure and industrial development, whilst China wishes to expand exports of tractors, electrical equipment and construction machinery. The World Bank forecasts 6.5% economic growth for Zambia next year, above the 5% of the past two decades.
China has approved substantial refurbishment of the Tazara Railway, originally financed in the 1970s to access Zambian copper deposits via Tanzania. The project is viewed as a counter to the Western-backed Lobito Corridor connecting Zambia through Angola and Democratic Republic of Congo.
Chinese firms have invested approximately $6bn in Zambia over two decades, predominantly in the metals sector. However, they face mounting scrutiny following a February acid spill at a Chinese-operated copper facility that released 50,000 cubic metres of contaminated water into the Kafue River, now a significant electoral issue, said Reuters.
The European Union’s senior development official visited Zambia earlier this month, whilst Donald Trump Jr. met President Hichilema on Sunday, the newswire added.
