Zambia is set to hold the first trade and investment forum with China, with the aim of realising the trade and investment potential between both nations.

The Trade and Investment Forum will be held in Lusaka next week, with the theme ‘China-Zambia investment in the new era, all-weather, all-diversion, and quality friendship.’

Unveiled on Wednesday, the forum will be hosted by the Chinese Embassy in Zambia and the Zambian Ministry of Commerce, Trade and Industry, and according to Chinese Ambassador to Zambia Du Xiaohui, 10 Chinese Fortune 500 enterprises have been invited to take part.

Both countries will also sign three memoranda of understanding for greater investment cooperation, digital economy investment, along with investment and economic working group treatment.

"The core essence of the forum is to implement the outcome of the two presidents' phone conversation and advance China-Zambia relations standing through practical economic cooperation," Du Xiaohui stated.

He added that the aim of the forum is to attract further Chinese investment into Zambia and boost economic growth. It will also help to showcase Zambia’s robust investment policies, the ambassador said.

Du Xiaohui reiterated that China will remain an important investment and trade partner for Zambia. A total of 600 Chinese firms are currently operating in Zambia, with investment totalling $3 billion and the creation of 50,000 jobs.

He said bilateral trade in the first half of 2022 amounted to $3.76 billion, close to a 40% rise over the same time last year, with a trade surplus in Zambia of $2.92 billion.

Elias Mubanga, Zambia's acting Minister of Commerce, Trade and Industry said this forum will “bring together corporate institutions, financial institutions and innovators to discuss and explore potential investment opportunities which were in line with the Zambian government's vision.”