The China Development Bank (CDB) has expressed its willingness to help Zimbabwe with its economic "recovery" programme, Harare’s Herald newspaper reported. It quoted Chen Yuan, the CDB governor, as telling Joyce Mujuru, the Zimbabwean vice-president who is on a visit to Beijing: "We believe your country is a good candidate for our bank. We look at our best friends first." Yuan was speaking at the weekend as Mujuru wound up a weeklong official visit to China on invitation of the Communist Party of China (CPC). The Chinese banker added: "We want to finance your social and economic reconstruction programme. We can start with a small amount and grow with big projects." Chen said his bank was prepared to consider a currency swap using the Zimbabwe dollar and the Chinese yuan to ease financial cooperation between the two parties. Last month Namibia’s former president, Sam Nujoma also visited China.

The EU representative in Namibia and the Windhoek-based secretariat of the Southern African Customs Union (SACU) signed an N$ 16 million deal this week. The contribution agreement is part of the redesigned Economic Integration Support Programme (EISP) to SACU. Signed in 2001, the EISP was allocated € 6 million (about N$ 51 million) from the European Development Fund) and EPRD (European Programme for Reconstruction and Development) in South Africa. With the signing of the SACU Agreement in 2002, the programme was revised 2004 to assist its implementation. The global objective of the support is to assist the SACU economies to take advantage of the more open and integrated trading environment within SACU. EISP supports the establishment and effective functioning of the SACU Secretariat and its related institutions: the Council of Ministers; the Customs Union Commission; Secretariat; Tariff Board; Technical Liaison Committees and an ad hoc tribunal. Following the ratification of the SACU Agreement in July 2004 a Secretariat was established in Windhoek to run the day-to-day administration of SACU, coordinate and monitor the implementation of all decisions of the Council of Ministers and the Commission. "The financial contribution of about N$18 million over an 18-month period will assist SACU in the full implementation of the SACU Agreement", said EU Ambassador Antonius Brueser at the ceremony. The important targets for the 2006-2008 period include: support the implementation of the 5 customs initiatives; establish co-operating mechanisms on agricultural policies and competition policies; support the establishment of the Tariff Board and National Bodies; assist in the development of an Annex on unfair Trade Practices and assist in undertaking various studies to support the implementation of the SACU work programme.