………..The partnership will present an opportunity for Zambian companies to collaborate with Italian companies on business and export opportunities

The Zambia Development Agency (ZDA) represented by Director General Mukula Makasa and Confindustria Assafrica and Mediterraneo represented by organization president Massimo Dal Checco have signed a Memorandum of Understanding (MoU) on a cooperation commitment to establish a practical framework for Zambian and Italian companies to collaborate on business and export opportunities in Zambia and Italy.

The partnership reaffirms the strong bilateral relations between Zambia and Italy and is a build up to previous trade and investment engagements.

Zambia’s Ambassador to Italy Dr. Joseph Katema and Italy’s Ambassador to Zambia Antonino Maggiore attended the MoU Signing Ceremony.

ZDA and Confindustria Assafrica and Mediterraneo will leverage each other’s comparative advantage to create partnerships and business ventures between Zambian and Italian companies, promote participation in the fairs and promote trade and investment missions between Zambia and Italy.

As part of the MoU, the Agency will promote to Italian companies through Confindustria Assafrica and Mediterraneo all business initiatives and requests relating to partnerships in Zambia aimed at developing the industrial sector.

Confindustria Assafrica and Mediterraneo will circulate business opportunities and any other relevant information received by ZDA among its members and all Italian companies to target and identify Italian companies for the development of partnerships with Zambian companies.

In addition, Confindustria Assafrica and Mediterraneo will assist ZDA to find suitable partners in Italy among Italian companies and ZDA will assist Confindustria Assafrica & Mediterraneo to find suitable partners in Zambia among Zambian companies.

Further, ZDA will assist Confindustria Assafrica and Mediterraneo members and other Italian companies for the approval and implementation of investment and business projects in Zambia for the administrative procedures, fiscal and customs facilities to Italian companies.

According to the MoU, ZDA is expected to place a delegate at the Embassy in Italy, while Confindustria Assafrica and Mediterraneo is to place their delegate at the Embassy in Zambia, for investment promotion purposes.

Speaking during the virtual MoU signing ceremony, ZDA Director General Mukula Makasa disclosed that the partnership agreement was a build up to earlier trade and investment engagements between Zambia and Italy.

“It is my sincere hope that the meeting held earlier during the year will result in tangible and meaningful trade and investment deals for all involved and that the signing of this MoU will provide a clearer framework to be used in the process,” he affirmed.

And speaking at the same event, Confindustria Assafrica and Mediterraneo president Massimo Dal Checco said: “The MoU will strengthen and enhance the cordial relations the two countries have enjoyed and will lay a strong framework for partnerships and possible joint ventures between Italian and Zambian Businesses.”

Commenting on the MoU, Zambia’s Ambassador to Italy Dr. Joseph Katema said: “Today is indeed a historic day. For the first time in the history of our country, ZDA has joined forces with a strong partner organization in Italy, Confidustria. This MoU presents a great opportunity to the business communities of our two countries. This is true because Confidustria fully represents the interests of the Italian Private Sector on the one hand, and ZDA on the other hand, though a government agency is the foremost business support organization in Zambia. For this very reason, this MoU being signed today is very timely and important as it puts us on a road to deep economic ties and subsequently economic prosperity. The only part that will make this framework of cooperation to work and succeed would be the private sector. This is so because the private sector are the nuts and bolts of any economy.”

Meanwhile, Italy’s Ambassador to Zambia Antonino Maggiore had this to say about the MoU: “Promoting trade and investment between the two countries with the support of the two embassies through a Memorandum of Understanding will yield results and add to strengthening of the bilateral relations between the two countries.”