国内英语新闻:Zimbabwe, China strengthen economic cooperation

A number of hydro, thermal, gas and solar power projects had been identified in Zimbabwe for investment by Chinese companies, Mumbengegwi said, adding these have capacity to contribute 3, 100 megawatts to the national grid when completed.

The output is more than the country's current national energy requirement of 2, 100 MW.

Mumbengegwi also said the improved macro-economic environment prevailing in the country should spur economic cooperation between Zimbabwe and China.

There is need for finalization of loan applications to finance infrastructure projects submitted to China Exim Bank to help Zimbabwe quickly move from the stabilization phase to sustainable economic growth, he said.

He also called for clear strategies to expedite implementation of various mining projects that Zimbabwe has entered into with various Chinese companies.

Zimbabwe, the minister said, also wanted to enhance cooperation with China in such sectors as human resources development, Information Communication Technology and science and technology research.

Chinese deputy minister of industry and commerce Jiang Zengwei hailed Zimbabwe-China economic cooperation, noting that in spite of the difficulties posed by the global economic recession, bilateral trade between Zimbabwe and China has maintained an upward trend.

"In 2009 bilateral trade between the two countries stood at 297 million U.S. dollars, up by 5.6 percent from the previous year. From that China's exports were 156 million U.S. dollars and imports from Zimbabwe were 141 million U.S. dollars. In the first four months of this year our bilateral trade stood at 224 million U.S. dollars, up by 125 percent year on year. From that China's imports from Zimbabwe already exceeded its exports to Zimbabwe, which is 125 million U.S. dollars, by 90 percent year on year," he said.

He expressed the hope that the two countries would continue to deepen economic cooperation and their traditional friendship dating back to the days of Zimbabwe's liberation struggle.

He also commended Zimbabwe's political leaders for establishing an inclusive government, saying the new government would enable Zimbabwe to overcome some of its economic challenges and also create a more conducive atmosphere for economic cooperation with China. "I believe the establishment of the new government will lay a solid foundation for Zimbabwe to overcome the current difficulties and achieve economic recovery and social development. The establishment of the new government has also created very good conditions for China and Zimbabwe to conduct further mutual benefit cooperation."

"The Chinese hope that we can strengthen our cooperation with our Zimbabwean counterparts to ensure the smooth operation of the new government and help Zimbabwe to realize the early recovery of its economy and social development," the Chinese deputy minister said.