Minister of Commerce, Trade and Industry Christopher Yaluma says Zambia has priotized the Industrialization policy as a key driver in the attainment of economic development.
Mr. Yaluma says Zambia is committed to achieving the industrialization status as envisaged in the country’s 7th National Development Plan.
Speaking in Addis Ababa, Ethiopia when he held a bilateral meeting with Dr. Benedict Oramah , the President and Chairman of the Board of Directors of African Export and Import Bank, Mr. Yaluma said Zambia is pursuing the agenda in order to be competitive especially when the African Continental Free Trade Area(AFCFTA) will come into force in July 2020.
He said Government has already put in mechanisms such as the establishment of the Industrial parks to realize the agenda of industrialization.
Mr.Yaluma further said government has put a high premium on Agriculture, Tourism and Construction as sectors that are key to help quickly grow the economy and to reduce its dependency on copper.
And African Import and Export Bank President, Dr. Benedict Oramah said the bank is committed to entering into partnerships with countries like Zambia where a strong economic base existed.
He echoed the Minister’s sentiments on the need to create industrial parks saying it was one sector that the bank was interested in funding.
Dr.Oramah further said it was important for member countries to industrialize as the CFTA market will provide the largest market available hence needing non traditional exports.
This is according to a statement issued by Inutu Mwanza, the First Secretary for Press and Tourism at the Zambian Embassy in Ethiopia.