On 27 April 2010, China Forestry Exchange (CFEX) and Zimbabwean Ministry of State-Owned Enterprises and Parastatals (MSEP) signed a Strategic Cooperation Memorandum of Understanding on jointly establishing a comprehensive trading institute in Harare, Zimbabwe. The aim is to enhance the collaboration between CFEX and MSEP and to effectively promote financing, investment and trading between Zimbabwe and worldwide. Chairman of CFEX, Mr. Liang Yu, and the Minister of MSEP, Hon J. G. Gabbuza, signed on behalf of China Forestry Exchange and Zimbabwean Ministry of State-Owned Enterprises and Parastatals, respectively.

The signing ceremony was attended by Ambassador of Zimbabwe, H. E. Frederick M. M. Shava, Director of MSEP, Ms. E. Madziva, Executive President of CFEX, Mr. Zeng Chunjun, Deputy President of CFEX, Mr. Li Hanhui, Chairman’s International Assistant of CFEX, Mr. Charles Lee, Director of CFEX, Mr. Zhaoyue, relevant representatives of MSEP and staffs of CFEX.

Remarks delivered by Chairman of CFEX, Mr. Liang Yu. The Chairman addressed that CFEX was established with the approval of the state council, the State Forestry Administration and Beijing Municipal Government. It is a professional market platform for nationwide and worldwide forestry equity and forest-related trading business. He also highlighted that with CFEX’s geographic, technology, political and personnel advantages, it has confident to well collaborate with MSEP on accelerating and boosting the economy development of both countries.

Following these, Minister of MSEP, Hon J. G. Gabbuza then gave his speech. He expressed his gratitude to CFEX and for all the behind-the-scenes work that had gone into making the signing of the MoU possible. The Minister addressed that while the two parties have shared a strong collaborative relationship, the MoU was an important step and provided a strong foundation for future efforts between the two parties. He then introduced that Zimbabwe has abundant SOE resources and Zimbabwean Government encourages foreign investment into the SOEs and SMEs which will be developed with priority. MSEP is also interested in the forestry right, forest-related trading business, especially to the flowers trading with CFEX.

It is believed that with the expectant effects between two parties, the cooperation and intercourse will be promoted tremendously, the establishment of the comprehensive trading institute in Zimbabwe will promote its economic restructuring, life up the overall investment activities, as well as promoting its fast and sustainable economic development. The specific, concrete activities have being translated into action of the commitment made under the MoU framework.