ZDA seeks more collaboration in Zambia, Germany trade

BUUMBA CHIMBULU writes

@SunZambian

GOODS worth over US$9,000 were in the last five years exported to Germany, signifying the need to enhance collaborations between Zambia and that country to ensure there are more exports.

Zambia Development Agency (ZDA) Acting Manager Investment Promotion, Samson Simwanda, observed the need to increase exports to German.

He regretted that between 2015 and 2020, Zambia exported goods worth US$9,000 to German, signifying the need to enhance collaboration between Zambia and that country to ensure there are more products are exported.

He revealed that between 2015 and 2020, between 2015 and 2020, Zambia imported goods worth USS$423,533 from Germany and only exported USS$9,651 during the same period.

While calling on German investors to explore the vast investment opportunities in Zambia, Mr Simwanda said the country would enhance collaboration with German.

Presenting Zambia’s trade and investment opportunities, he explained that Zambia and Germany had been doing business with each other from time immemorial.

Mr Simwanda made the appeal during a German Zambia Business Webinar dubbed ‘Doing Business in Zambia’ held on January 12 2021.

“Zambia has been importing machinery, data processing and electric equipment, vehicles, chemicals, oil and gas, metals, pharmaceuticals, foodstuffs, agricultural products among others,” he said.

Mr Simwanda urged German Investors to consider investing in the manufacturing, agriculture, energy, tourism and infrastructure sectors as they were considered Zambia’s priority sectors.

He cited the processing of minerals such as Copper, Cobalt, Gemstones, Gold and the manufacturing of agricultural equipment as some of the opportunities available in mining.

“In the energy sector, there are opportunities in solar energy projects, geo-thermal plant, biofuel energy projects and petroleum products,” he explained.

Speaking during the same webinar, Zambia’s Ambassador to Germany, Anthony Mukwita, assured Germany investors that their investments were safe in Zambia explaining that government through ZDA issued investment guarantees and securities to protect investments.

Mr Mukwita encouraged German investors to invest in Zambia saying the country had a stable political system since independence in 1964.