Mugabe, 91, personally welcomed Xi at Harare International Airport while thousands of visitors thronged the airfield to get a glimpse of the Chinese president.
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China will lend US$1.2 billion to help rehabilitate Zimbabwe’s aging coal-fired Hwange power plant, Bloomberg reported, citing an announcement from Finance Minister Patrick Chinamasa made as Chinese President Xi Jinping arrived for a two-day state visit fresh from an ongoing climate change summit in Paris.
President Xi says relations between China and South African are in the “best shape” ever thanks to continued engagement on growth and investment.
“The Chinese are becoming strong in terms of their investments in Zimbabwe.
The other key areas include roads, rail and infrastructure development”, Mugabe said in his address at a colourful banquet in Xi’s honour in Harare.
Xi, who was accompanied by his wife Peng Liyuan, touched down in Harare just after 1000am and was met by his Zimbabwean counterpart President Robert Mugabe amid a colourful mix of Chinese and Zimbabwean pageantry.
“The Chinese president will make a difference in our trade relations with China in a manner that is sustainable, in a manner that will attract many investors into Zimbabwe”, the minister told Xinhua.
China is Zimbabwe’s fourth largest trading partner, but accounts for the biggest share of the small foreign investment pie attracted to Harare since its fallout with the West after 2000.
Xi was due to hold talks with South African President Jacob Zuma yesterday and is scheduled to attend the Forum on China-African Cooperation tomorrow.
“Although this approach has precipitated some benefit to African countries, including Zimbabwe, the advantage is often squarely in China’s favour”.
Bimha said the value of the agreements would only be disclosed later on Tuesday.
The two governments are expected to sign agreements to boost Zimbabwe’s agriculture, mining and manufacturing sectors.
According to an Executive Mansion release, the Summit, which is being held under the theme, “Africa-China Progressing Together: Win-Win Cooperation for Common Development”, marks the first time that African and Chinese leaders will meet in Africa to look at ways of deepening cooperation.
“Such initiatives are a clear departure from Beijing’s aversion to military or security intervention in Africa”, said Mr Lyle Morris, a project associate at RAND Corp, citing in particular the military assistance Mr Xi pledged in September.
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China’s trade with Africa is largely import-driven, with the world’s second-largest economy buying oil mostly from Nigeria, Angola, Equatorial Guinea, Ghana, Cameroon, the Republic of Congo, Gabon, Uganda, South Sudan and Sudan, and feeding the demand for cheap Chinese products in these countries.
