Sponsored by CCPIT China, the Ministry of Trade Commerce and Industry of Zambia, Zambia Development Agency and China Nonferrous Metal Mining Group Company, China-Zambia Economic and Trade Investment Forum opened on 26th Feb. in Beijing. The Zambian president Rupiah Banda made presence in the forum and delivered a speech. Several Zambian ministers and over 200 businessmen from China and Zambia attended this forum. The Zambian Development Agency, Zambia-China Economic and Trade Cooperation Zone (ZCCZ) as well as China-Africa Joint Chamber of Commerce and Industry signed the Cooperation Memorandum.

Yu Ping, the vice chairman of CCPIT made the welcome speech. Yu said that bilateral trade volume reached US$1.424 billion in 2009, up 81% year-on-year. He also pointed out that there had been 200 Chinese enterprises in Zambia with direct investment volume US$ 776 million. The two countries have cooperated well in mining industry for the recent years. The smooth running of ZCCZ invested by China Nonferrous Metal Mining Group Company is a good example.

President Banda expressed that China had assist Zambia’s development ranging from the famous Tanzania-Zambia railway to the construction of power plants, roads, houses, medical staff training in Zambia. While other countries were busy pulling out their investment or laying off workers after financial crisis broke out, Chinese companies took over some already-closed-down copper mines in Zambia, lending a helping hand in solving the local unemployment problem. Banda expressed that Zambia was not only abundant in its natural resources, but also stable in its political environment.

He also introduced the development situations of other industries concerned and the investment climate in Zambia.