Government says private capital flows is essential for the attainment of sustainable development.
Finance Minister Alexander Chikwanda says countries like Zambia need to accelerate her economic growth and social development in finance from the private sector.
Mr. Chikwanda said the private sector provides a long term and formidable avenue to accelerating growth and development.
The Finance Minister said this in Ethiopia during the third International Conference on Financing for Development which runs from July 13 o 16, 2015.
He said business and markets form an important cornerstone for sustainable development hence the need to provide appropriate policy space within which they could operate effectively in Zambia.
He said Zambia has been implement reforms which are aimed at improving tax mobilization in the country which at international levels have been achieved through entering bilateral agreements on tax information.
He disclosed that Zambia, which is the least developed y and land locked country recognizes the importance of trade facilitation and meaningful integration into the world as vital requirement to ending extreme poverty needs support to enhance her export growth and value addition then the implementation of priority areas outlined in the Istanbul program of action and the Vienna program of action.
Mr. Chikwanda called for global community to prioritize investment in technology, research and development that are anchored on three pillars namely research, technology advancement and innovation.
He said the conference provided for an opportunity to emerge into a stronger but well-articulated strategy for putting countries like Zambia on the right economic path.
Mr. Chikwanda said Zambia looks forward to Ethiopia for the outcome which has an ambitious framework to complement the post 2015 development agenda.
Zambia’s Ambassador to Ethiopia Susan Sikaneta and UN Secretary General Ban Ki Moon are among those attending the 3-day Conference.