ZAMBIA has signed a bilateral trade agreement with Angola to increase trade between the two countries. The trade stands at US$8 million in exports and US$175,000 in imports.
The bilateral trade agreement will further exempt some products from customs duty.
Minister of Commerce, Trade and Industry Margaret Mwanakatwe, who signed for the Zambian government, said that the bilateral trade agreement will have a positive impact on the diversification programmes being pursued by the two countries.
This is according to a statement issued in Lusaka yesterday by Ministry of Commerce Trade and Industry permanent secretary Kayula Siame
Mrs Mwanakatwe said the agreement is designed to facilitate the expansion of trade between the two countries and further strengthen economic and political ties.
The minister said in Luanda during the signing ceremony last week that: “Synergies between trade promotion and investment promotion will be critical to harnessing the benefits associated with the implementation of the bilateral trade agreement.”
She urged Zambian exporters to take advantage of the trade agreement and the Angolan market by ensuring that their goods meet international standards and to work with the Zambia Bureau of Standards.
“The Zambia Development Agency will be on hand to provide any facilitation the exporters will require to access the Angolan market,” Mrs Mwanakatwe said.
Angola’s Minister of Commerce, Rosa Escorcio Pacavira De Matos said the agreement will enhance trade, improve market transactions and the movement of people and goods.
Ms De Matos said the agreement will also foster public and private investments between the two countries.
The agreement is intended to make Angola one of Zambia’s largest export markets and further create an opportunity for investment, competition and innovation for the private sector, thus, enhance job and wealth creation in areas such agriculture, tourism, energy and construction.
The trade agreement has provided a list of products that will be exempted from custom duty.
The agreement will further compliment other initiatives such as the development of the Lobito Corridor, which is aimed at renewal of the Benguela Railway Line which was commissioned last year.
Hon. Minister,
Can you PLEASE clarify when will Government start RATIFYING already signed BIT’s?
Exactly 0690.Why sign new things when old agreements are still on paper?
We did not have a bilateral Trade Agreement with Angola and this will help in increase trade between the two countries. We have captured a market that we did not have before as Angola is not part of the SADC Free Trade Area. Both countries businesses and the people in general will benefit from this
“The trade stands at US$8 million in exports and US$175,000 in imports.”
Please lets be articulate in the way we report who is exporting what and importing what? Where does this trade stand from the Zambian side or Angolan side. A small table would have been appropriate to explain and tabulate
I hear we are building a bridge and road going to Angola yet they haven’t started doing anything on their side.
This is similar to football where if you know which is the home team and one gives you the scores as 1-0 you know that the home team won by 1 goal to 0. this speech is by the Zambian Minister of Trade. So these figures are in relation to Zambia as the home country. So the US$ 8 million is what Zambia exported while the other figure is what Zambian imported from Angola during the reference period.
Angola has re-established a railway connection from Lobito in the Atlantic Coast all the way to Luau in the cross border with DRC and Zambia. Both Zambia and DRC should have started on their end, we are told the Zambian Gov. is still in talks with Grindrod and have not yet started construction.
Why do we still need VISAS to go to Angola dont you think this is the first thing you should tackle on your so
called Bilareteral agreements so that there is easier movements of goods too and fro????
My understanding is: DRC’s border is very porous and the country itself is in constant conflict, neither Angola nor Zambia want to liberate the borders and have an influx of DRC citizens. Angola needs to sort itself out internally before it opens up its borders. A lot still needs to be done after 27 years of war.
Yes what does the list consist of? Merely mentioning that there is a list of goods to be exempted from duties is not really helpful. Perhaps Lusaka times can try and find where that list is or how can members of the public access such a list. One wonders if the list is not for PF cadres alone.
Mikalile has 2 hotels plus a showroom in Angola. Zambia richest man
Harrasment at the border by the Angolan officials cannot go without being mentioned. Zambian traders are always harassed by the boarder police officers. This was supposed to be part of the discussion by the two Ministers. Otherwise the agreement is good.