Wednesday, June 19, 2024

Zambia, Turkey discuss investment

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Turkey’s Minister of Trade, Mehmet Mus has called for intensified collaboration between the Turkish private sector and the Zambian business community.

He indicated that more interaction between the two countries will help to reverse the low trade volume which stood at US$26 million in 2019 and US$25 million last year, which was not impressive.

Mr Mus was speaking during a bilateral meeting with Minister of Commerce, Trade and Industry, Chipoka Mulenga on the sidelines of the just-ended 3rd Turkey-Africa Economic and Business Forum in Turkey’s commercial and industrial hub of Istanbul.

He noted that the low volume in figures is as result of lack of knowledge by many business people in Turkey and sub-Saharan African countries like Zambia.

‘’We need to organize events such as business forums to make our people meet so that they can have more knowledge about the country and make informed decisions to invest,” he said.

Mr Mus also called for early conclusion of negotiations between Zambia and Turkey on Avoidance of Double Taxation Agreement (ADTA) between the two countries.

And Mr Mulenga said the new dawn government is seeking investment that can promote value addition to raw materials through sustainable partnerships with Zambians.

He stated that government is determined to transform Zambia into a value addition and production hub.

Mr Mulenga assured that Turkish investment in Zambia was secure in line with the Investment Promotion and Protection Agreement (IPPA) signed between the two countries.

He also added that Zambia would remain consistent in terms of business legislation and policies for the mutual benefit of the Zambian people and investors.

‘’Zambia remains an investment destination of choice due to peace, stability and legislation that enables businesses to thrive,’’ noted Mr Mulenga.

‘’By investing in Zambia, the Turkish private sector, would also be tapping into the Common Market for Eastern and Southern Africa (COMESA) and Southern African Development Community (SADC) markets with a combined population of over 600 million people,’’ he explained.

The Turkey-Africa Economic and Business Forum was held under the theme: “Deepening Turkey-Africa Partnership: Trade, Investment, Technology and Logistics.”

This is contained in a statement issued to the media by the Zambian Embassy in Turkey, First Secretary Jeremy Munthali.

4 COMMENTS

  1. Zambia should not get in bed with Turkey as long as Erdogan is president. He is a hypocrite and a dictator. He just sent ten ambassadors of the ten most powerful countries home. Can’t be trusted. Wait till he’s gone.

  2. Please keep away from these corrupt thugs …mind you there was a time when the Bombardier Jet 9J-ONE was flying to Ankara every other week.

  3. My clone above had woken up emotional again. This is good for the nation. Let us embrace investment like our president does.

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  4. Good idea to talk investment BUT FIST STOP THEM FROM THE BLOCK MAKING INVESTMENT ZAMBIA GAVE THEM. LOOK WHAT THEY HAVE DONE TO THE LOCAL INDUSTRY. THIS SHOULD HAVE BEEN KEPT FOR THE ZAMBIAN YOUTH – EXTREMELY BAD DECISION AND SELFISH DECISION BY WHOEVER ALLOWED THEM TO START BLOCK MAKING, GAVE THEM THE MOST LUCRATIVE LAND AREAS ETC.

    PLEASE REVERSE THIS TREND AND GET PROPER INVESTMENT

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