19.2 C
Thursday, May 23, 2024
HomeBusinessZambia, Namibia sign 4 trade deals

Zambia, Namibia sign 4 trade deals

Zambia and Namibia have signed four Memoranda of Understand (MoU) aimed at strengthening bilateral trade agreements between the two countries.

The deals signed at the joint trade and investment committee ministerial meeting between Zambia and Namibia in Lusaka yesterday focused on, industrial development cooperation, competition and standards.

Speaking during the signing ceremony, acting Commerce Trade and Industry Minister Rodney Sikumba said Zambia had placed significant emphasis on economic diplomacy as a strategic approach which aimed at fostering harmonious trade relations with neighbouring countries.

Mr Sikumba expressed confidence that the implementation of the targeted MoUs would create an enabling environment that would enhance inclusive and sustainable industrial development for the socio- economic benefit of the two countries.

He added that the agreements would also contribute to shifting economic activity towards higher value-addition, fostering industrial capacity and promote industry specific skills in the two countries but also enhance the regional integration agenda.

And Namibian Minister of Industrialisation and Trade Lucia lipumbu said the bilateral relations between Zambia and Namibia remained warm over time which would further be reinforced by collaboratively seeking fresh avenues to broaden our partnerships.

Ms lipumbu said Namibia recognised trade as an economic catalyst for most of the developmental activities in the country.

She added that Namibia prioritized trade and investment with her neighbours and Zambia was one of the countries of strategic importance with the potential to further improve trade benefits.

“We are therefore extending an invitation to the Zambian business community to come to Namibia and explore trade and business opportunities in various fields such as tourism, mining and energy, agro processing, manufacturing, oil, and gas,” she said.

Meanwhile both parties committed to facilitate trade and investment through improved market access of products such as sugar, salt, fish, livestock, meat and meat products, wheat, maize, mealie meal, bran, soya and soya products, sorghum, mangoes, avocadoes, honey, tomatoes and other products.

“We also commit to the timely resolution of outstanding Non-Tariff Barriers to facilitate free flow of goods, finalise the review of the One Stop Border Post Agreement to facilitate signing of the Agreement within a reasonable time frame and Revive the Zambia – Namibia Agriculture Joint Venture Project (ZANAP), a joint venture to help address food insecurity situations in the two countries,” reads the communiqué.


Most Popular