Source: allAfrica.com

9 September 2011

 

THE Zambia Association of Chambers of Commerce and Industry (ZACCI) has called for more innovative solutions and ensure smooth flow of trade between Zambia and China.

 

ZACCI president Geoffrey Sakulanda said the Bank of China has come up with various innovative solutions that would facilitate for trade between the two countries.

 

Addressing the chief executive officers meeting in Lusaka yesterday, Mr Sakulanda said there was need for sustainable and innovative solutions that would ensure a smooth flow of goods between Zambia and China in a safe and secure manner.

 

Mr Sakulanda said China was becoming one of the major trading partners with Zambia. He said large corporate, Small and Medium Entrepreneurs (SMEs) and Cross border traders are all engaging in trade with their Chinese counterparts adding that this would impact positively on the Zambian economy.

 

"We are happy to see the Zambian business community take advantage of these services being provided for by Bank of China to their benefits," he said.

 

Mr Sakulanda said China had emerged as one of the big and fastest growing economies in the world and was one of the major players in the global economy in the production of goods and services.

 

"Many countries around the world are trading with China including the big economies of the world. This includes Sub-Saharan Africa and Zambia in particular. The level of trade between Zambia and China had continued to grow over the years," Mr Sakulanda said.

 

He urged the business community to open up accounts with the Bank of China for easy transactions especially those dealing with Chinese companies.

 

Speaking at the same function Bank of China general manager Wang Hongwei said the bank was committed to providing financial services for the local community and continual improvement on its management and products.

 

"We are also hoping to open the Kitwe branch by the end of this year to broaden our services coverage in Zambia," he said. Mr Hongwei said the past 14 years, the bank witnessed the rapid development of Zambia's economy and the bank would continue to support the local economy.

 

He said next year the Bank of China Group would be celebrating a hundred years. The bank would utilize the group resources to do our best to become a leading Sino-Zambia financial services provider making it the most valuable Chinese financial brand in Africa.