By Derrick Silimina
The Zambia Development Agency (ZDA) and the Eswatini Investment Promotion Authority (EIPA) have signed a Memorandum of Understanding (MoU) to develop stronger business relations.
In a statement, ZDA Board chairperson Biemba Maliti said the agreement sets forth the procedures of cooperation for the expansion of investment and trade relations between Eswatini and Zambia, strengthening institutional relations and capacity building through mutual cooperation.
“We can enhance our bilateral trade agreements to provide better incentives for private sector engagement through initiatives such as investment summits, trade missions, and establishing clear guidelines for cross-border investments will help attract mutual investment,” Professor Maliti said.
He disclosed that the areas of cooperation include among others investment, trade promotion and facilitation, exchange of information on trade, investments, incentives, policies, regulations and investment opportunities. In addition, ZDA and EIPA will work together in organising business missions related to trade and investment, participate in exhibitions, meetings and conferences and cooperate in implementing a sustainable strategy for a variety of capacity-building and development activities of common interest.
Prof. Maliti noted that the two institutions will also encourage and support the exchange of technical expertise, knowledge and training opportunities, facilitate linkages of exporters from each other’s country to buyers in the local markets and encourage linkages and partnerships between SMEs from both countries.
Meanwhile, ZDA Director General Albert Halwampa added that the signing of the MoU is a symbol of commitment to strengthen efforts to improve trade and investments between the two countries and the region.
Halwampa highlighted the focus areas of collaboration as agriculture and agro-processing; Tourism, culture, and heritage; Infrastructure development and connectivity; Energy sector; Education and skills development; Human capital development; and Trade facilitation and policy harmonization.
He expressed commitment to execute the Memorandum of understanding for the mutual benefit of the two nations.
EIPA Board Chairperson Theo Hlophe said the MoU signing was a great milestone for both countries and urged that the emphasis of the interactions should be country to country and not Agency to Agency.
And EIPA Chief Executive Officer Sibani Mngomezulu shared the mandate of the authority and expressed the need for the two institutions to learn from each other and work together for the greatness of the two countries.
“EIPA is a sister to ZDA and the MoU will make us seamless in our operations,” said Mngomezulu.
