First Chinese commodities fair opens in Zambia

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 ◆ First Chinese commodities fair opens in Zambia

The first ever Chinese commodities fair opened here recently with the aim of promoting trade and investment between China and Zambia.

The four-day fair, housed in the Chinese Center for the Promotion of Investment Development and Trade, showcases exhibits brought in by some 30 Chinese state-owned and private firms ranging from light industry, textiles, garments, house electrical appliances to ceramics.

Chinese Ambassador to Zambia Peng Keyu said at the opening ceremony that the China-Zambia economic relations have been growing steadily in recent years, and in 2001 the trade volume reached 74.52 million US dollars, which represented the second high record in history.

With regard to investment, he said that in the first quarter of 2002 over 100 Chinese enterprises invested in Zambia with agreed investment amounting to 255 million dollars.

Quite a number of the firms are already in operation, directly creating 4,000 jobs for the Zambians, he added.

Eugene Appel, Zambian deputy minister of Commerce, Trade and Industry, also spoke on the occasion, expressing admiration at China's fast economic development and hoping for more economic cooperation between the two friendly countries.