9 March 2014

East Africa: Zambia Gets Comesa, SADC Investment Offers

ZAMBIA has received offers to invest in five Common Market for Eastern and Southern Africa (COMESA) and Southern African Development Community (SADC) countries, which have opened their economies to Foreign Direct Investments (FDIs).

The offers came shortly after the end of the 17th COMESA summit which was recently held in the Democratic Republic of Congo (DRC).

Foreign Affairs Minister Wylbur Simuusa said countries that were ready to embrace Zambia as a strategic investment partner include Congo DR, Zimbabwe, Mauritius, Kenya and Uganda.

Mr Simuusa said in an interview that likewise, countries from the COMESA and SADC regions have also pledged to extend their investments to Zambia.

The minister said investment partnerships would be fostered through Joint Permanent Commissions (JPCs), which the Zambian Government has formulated to promote intra-country trade.

Mr Simuusa, who met with Government representatives from the five countries on the sidelines of the summit, said Zambia was ready to take up the challenge.

"The aim is to establish investments both ways and as Zambia, we are ready to take our investment there just as much as we are ready to attract their FDIs," he said.

Mr Simuusa said Zambia had stepped up a bilateral stance to attract FDIs to create more jobs as well as, promote value addition.

Mr Simuusa also said cross-border trade between Zambia and the DRC had continued to soar.

The two countries had continued to enjoy warm bilateral relations and that this would continue to promote trade and economic growth in both countries, he said.

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