President Hakainde Hichilema, attending the 5th G20 Compact with Africa (CwA) Summit in Berlin, held bilateral talks with German Chancellor Olaf Scholz to explore avenues for strengthened cooperation between Zambia and Germany. The discussions, held on the margins of the summit, delved into potential German participation in infrastructure projects and the encouragement of German businesses to invest in value addition within Zambia’s agriculture sector.
Chancellor Scholz expressed Germany’s readiness to engage in infrastructure initiatives, aligning with Zambia’s efforts to bolster its economic development. President Hichilema, in turn, urged German investors to explore opportunities in enhancing the value chain of Zambia’s agricultural sector.
The leaders also emphasized the historical bilateral relations shared by the two nations and expressed their commitment to further deepening cooperation across various domains. The discussions aimed at creating mutual partnerships for the benefit of the people of Zambia.
President Hichilema’s visit to Germany aligns with his economic diplomacy agenda, seeking trade and investment opportunities for Zambia. The G20 Compact with Africa Conference is a crucial platform for attracting private investment by improving conditions for sustainable business growth and infrastructure development in African countries.
The conference, initiated under Germany’s G20 presidency in 2017, focuses on partnership approaches to implement reforms and enhance macroeconomic, business, and financing environments. Zambia’s participation in the G20 Compact with Africa initiative marks its first involvement, underscoring the country’s recent economic transformation agenda.
State House Chief Communications Specialist Clayson Hamasaka highlighted the significance of Zambia’s participation, emphasizing the country’s natural resources, youthful population, and stable political climate as attractive factors for private investment. The conference provides an opportunity for Zambia to showcase its potential to the international community, attracting investments in various sectors, including infrastructure.
President Hichilema’s economic policy reform agenda is to steer Zambia toward increased participation in global economic forums, fostering partnerships, and unlocking opportunities for sustainable development.