The Herald (Harare)
EDITORIAL
July 13, 2006
Posted to the web July 13, 2006
Harare
FOR decades, Africa's trade and investment partners have basically been former colonial powers.
And most economies in Africa have been based heavily on the export of raw materials like agricultural produce, minerals and oil, and the importation of manufactured goods and services.
But now Zimbabwe, as is the case with several other African countries, is drifting away from decades-long unfair trade and investment relations with former colonial powers.
Zimbabwe has adopted the Look East Policy and is doing more trade and investment with Asian countries like China and Russia.
Indeed, China's emergence as a major trading power, has given Zimbabwe and other African countries an unprecedented opportunity to strike strategic trade and investment partnerships.
It is a fact that China's economy has been expanding at an astronomical rate over the past two decades.
And to sustain this rapid growth, China needs raw materials.
Zimbabwe -- with its huge natural resources base -- can cater for China's needs for raw materials to boost its economy.
Zimbabwe can also harness the opportunity to broaden the co-operation scope and attract more Chinese investment, especially in mining and agricultural development.
The partnership between the Zimbabwe Mining Development Corporation and some Chinese investors serves as an excellent example of a mutually beneficial strategic alliance.
ZMDC has concluded four joint venture agreements with the Chinese investors in the area of mineral exploration and resuscitation of closed mines.
Some of the projects earmarked for revival through joint venture companies are Mhangura Copper Mines, Lomagundi Smelting and Mining and Sanyati Copper Mines.
A boon to Zimbabwe is the fact that China's growth into an economic powerhouse has pushed global commodity prices to unprecedented highs, which should in turn significantly have a ripple effect in our economy.
These partnerships with China will not only create employment for Zimbabweans but also earn the much-need foreign currency and help in turning around our economy.
The reality is that Zimbabwe and other African nations now see China as a role model and the Asian giant's influence in Africa looks set to grow further.
Zimbabwe is increasingly willing to co-operate with China because it wants to learn from China's economic success story.
The Chinese government's trade and investment policy with Africa is crystal clear.
It is guided by the principle of sincerity, friendship, equality, mutual benefit and common development.
And there are plenty of opportunities for Chinese investors in Zimbabwe, from mineral exploitation and agricultural development to infrastructural development.
Zimbabwe gives a more realistic image of a safe and attractive place for investment with innumerable business opportunities.
And China would not want this opportunity to slip away.
It is our strong feeling that the strong partnership being built between ZMDC and Chinese investors should be the beginning of greater things to come.