BRICS member China is reportedly looking to strengthen economic ties with one African nation, possibly opening the door for its invitation to BRICS. Indeed, China and Zimbabwe recently held their annual business forum, a setting for business leaders to explore new opportunities in trade and investment.
During the forum, the Chinese Ambassador to Zimbabwe, Zhou Ding, highlighted the remarkable progress in trade relations between the two countries. Ding revealed that bilateral trade reached a record $3.12 billion in 2023; a 29.9 percent increase from the previous year. Zimbabwe achieved a trade surplus of over $1 billion, exporting $2.1 billion worth of goods to China while importing $951 million.
China And Zimbabwe Expand Record Trade Relations: Zimbabwe Gets Clear Path to BRICS?
China imports various commodities from Zimbabwe, including mineral ores, macadamia nuts, tobacco, leather products, arts and crafts, and citrus fruits. Allan Majuru, the CEO of ZimTrade, Zimbabwe’s national trade development and promotion organization, shared Zimbabwe’s ambition to solidify its position as China’s leading economic, technological, and industrial partner in Africa. “We see in China not only a trade partner but a vital source of expertise, technology, and investment, all of which are integral to our aspirations for growth,” Allan Majuru said.
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Zimbabwe previously applied to join BRICS earlier this year. However, the alliance shut down inducting new full members, instead opting for BRICS partner nations at the latest summit meeting. Zimbabwe was not one of the new BRICS partners, however, they are still pursuing a strong relationship with various BRICS countries. Despite recent talks by the bloc to slow down the de-dollarization initiative, Zimbabwe is still looking to prioritize Zimbabwe Gold (ZiG) over the greenback.
The Zimbabwe-China Business Forum has laid a strong foundation for future collaboration between both countries. China and Zimbabwe are poised to benefit from enhanced trade, investment, and strategic partnerships in the coming years, the officials claimed. The African country may benefit the biggest though, due to its increased relationship with a top BRICS member. If the bloc elects to expand in 2025, Zimbabwe could be a top candidate in China’s eyes.