President Hichilema Commences Trip to China to Continue Economic Diplomacy

Yesterday, President Hakainde Hichilema commenced his visit to China at the invitation of Xi Jinping, President of the People’s Republic of China.

It is hoped that the visit will further the progress made by Zambia in its debt restructuring process; around two-thirds of its $6.3 billion debt is owed to the Export-Import Bank of China.

In June Zambia struck a momentous deal with its bilateral creditors, including China, to reschedule its payments. This agreement allowed the International Monetary Fund (IMF) to approve the disbursement of a further $189 million in support for the country.

In a statement released on his Facebook page, Hichilema described the visit as “part of our continued economic diplomacy”, with the aim of deepening cooperation between the governments of the two countries with regards to trade and investment.

The Zambian president’s itinerary will see him meet with Chinese leaders of various sectors, including energy, infrastructure, mining, and manufacturing.

China’s interests in Zambia run wide and deep. It has invested in over thirty Zambian projects through its Belt and Road Initiative over the past decade, as well as taking around 20% of Zambian export.

Hichilema’s visit to China is expected to extend until 16 September. He is accompanied on the trip by the First Lady, Mutinta Hichilema.

Photo: Hakainde Hichilema / Facebook