The Zambia Development Agency (ZDA) has called for a bilateral agreement between Zambia and the United States of America (USA) in order to enhance trade and investment between the two countries.
Speaking when a team from the American Embassy and United Stated Agency for International Development (USAID) paid a courtesy call on him recently, ZDA Acting Director General Albert Halwampa stated that the USA is the largest economy in the world and therefore a very important and strategic market for Zambia.
Mr. Halwampa said having a bilateral agreement between the two countries would provide an opportunity for the Zambian Private sector to fully benefit from the African Growth and Opportunity Act (AGOA) and begin to export selected products.
He added that a customized agreement can unlock opportunities for Zambia to export products like avocados, honey, curios and home deco among other low hanging fruits.
He further invited American investors to set up in the country stating that Zambia is strategically located in the central southern Africa and has access to the Common Market for Eastern and Southern Africa (COMESA), Southern Africa Development Community (SADC) and the Africa Continental Free Trade Area (AfCFTA) which provides a wider market for goods and services.
Mr. Halwampa stressed that His Excellency Mr. Hakainde Hichilema, the President of the Republic of Zambia is providing leadership that is focused, coherent and consistent as a catalyst to sustainable and increased investor confidence in the country.
“This is evidenced by the macroeconomic stability achieved in barely one year in office regarding debt management, single digit inflation and stable exchange rates as a solid foundation for increased economic growth through trade and investment,” he explained.
“ZDA is there to assist in all your investment needs and facilitate investment incentives, partnerships and joint ventures with Zambian companies that bring value to the table,” added Mr. Halwampa.
Meanwhile, US Embassy Counselor Political and Economic Affairs John Armiger said the USA wants as many Zambian companies to fully utilize the AGOA platform.
Mr. Armiger stated that the embassy wants to work with the Agency in promoting trade and investment for both Zambian and American companies.
He invited the Agency to facilitate private sector participation in trade shows organised by the Embassy such as the International Production and Processing Expo (IPPE) in Atlanta, Mine Expo in Las Vegas and Nat’I Restaurant Association/Hotel Show in Chicago among others.
In addition, USAID Zambia invited the Agency to partner in the ‘trade boost project’ which aims to serve as a catalyst for job creation increase incomes and boost the participation of women and youth in Zambia’s economic development to ultimately decrease rural poverty.
Director of Economic Development and Environment Adam Norikane said the overall goal of the programme is to increase trade and investment that generates inclusive growth, particularly to women and youth, through climate friendly approaches.
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Issued by:
Russel Haamubbi
Acting Manager Communications and Public Relations,
Zambia Development Agency,
Privatization House, Nasser Rd,
Lusaka.
Telephone: +260-211-220177/222858
Email: Russel.Haamubbi@zda.org.zm
About the Zambia Development Agency www.zda.org.zm
The Zambia Development Agency (ZDA) is Zambia’s premier economic development Agency with a multifaceted mandate of promoting and facilitating trade, investment and business development in the country. The Agency is also responsible for building and enhancing the country’s investment profile for increased capital inflows, capital formation and employment creation.
