Wednesday, April 17, 2024

There is need to unlock capital full development potential of key Transport Corridors in Zambia-Tayali

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Minister of Transport and Logistics Frank Tayali has said Zambia’s central geographic location in the Southern African Development Community (SADC) Region has presented an opportunity for the country to be exposed to multiple import and export Trade and Transport Corridors.

Mr. Tayali is attending the 2023 World Bank Group-International Monetary Fund Spring Meetings in Washington, D.C., USA.

The Minister participated in an in-person event on “Unlocking Financing Opportunities and Development Potential of Key Corridors in Africa”.

He said the transport corridors that Zambia has among them; Dar-es-Salaam Corridor linking the Democratic Republic of Congo and Zambia’s Copperbelt Province, the North South Corridor linking Durban with DRC/Zambia via Zimbabwe and Botswana with a spur into Malawi via Harare, the Lobito Corridor connecting Zambia to the Democratic Republic of Congo and the Republic of Angola to the Port of Lobito on the Atlantic Ocean for Western import and export markets in the United States of America and Europe.

“The Nacala Corridor linking Zambia and Malawi to the Nacala Part in Mozambiaque which is one of the deepest port in SADC; The Beira Corridor linking large parts of Zambia, Malawi, Zimbabwe and Mozambique to the port of Beira on the Indian Ocean; and the Walvis Bay Ndola Lubumbashi Development Corridor (WBNLDC) links the Port of Walvis Bay with Zambia, the Democratic Republic of Congo and Zimbabwe.This route links Zambia to strategic outlet to export markets and offers a key route to the sea port on the Atlantic Ocean linking the mining companies on the Copperbelt and Northwestern Provinces of Zambia to the Western markets in the United States of America and Europe,” he said.

“Economic and transport corridors are critical for the development of nations. This is especially the case for land locked countries that need to access inputs for production or regional and global markets.”

He further told the meeting that countries need to start engaging to actualize the benefits of the corridors.

He said in this regard, President Hakainde Hichilema has continued to promote economic diplomacy for the benefit of the people.

“Countries need to start engaging more and more. For Zambia, President Hichilema has continued to promote economic diplomacy. During his last visit to Mozambique, the two countries announced that they will start having direct flights from Mozambique to Lusaka, Zambia. This is what we need. We need to actualize these corridors,” he said.

Mr. Tayali said there is a need to unlock the capital needed to realize the full development potential of key corridors as important trade routes for both economic growth and food security in Southern Africa.

According to First Secretary Press and Public Relations at the Embassy of the Republic of Zambia in Washington, D.C., USA, Charles Tembo, Mr Tayali joined on the panel with Ministers from the Kingdom of Lesotho, South Sudan and the Democratic Republic of Congo.

The Ndola Central Member of Parliament is representing Zambia at the 2023 World Bank Group- International Monetary Fund Spring Meetings in Washington, DC. The Minister successfully participated in an in-person event on “Unlocking Financing Opportunities and Development Potential of Key Corridors in Southern Africa”.

The Corridors connect several landlocked countries to important gateway ports. They encompass road and rail networks, as well as maritime and inland water ports, and are important trade routes for fuel, minerals and metals, chemicals, food products, and consumer goods.

According to experts, several studies have shown that there remains significant scope to improve the infrastructure along the corridors and policies to increase their efficiency to fully realise their development potential.

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