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A Memorandum of Understanding (MoU) focusing on agro-processing, and electrical engineering, among others, has been signed between the Zambia Association of Manufacturers (ZAM) and Jiangxi International Chamber of Commerce (JXICC).
In the initial stages of implementing the MoU, the parties would prioritise collaboration by focusing on agro-processing, electrical engineering, leather and leather products, wood and wood products, metal fabrication and engineering, textiles and garments, and e-commerce.
ZAM Vice President – South, Chipego Zulu-Chileshe, announced the signing of the MoU in a statement on Thursday.
Zulu-Chileshe said the partnership created a tremendous opportunity for knowledge exchange and enhanced business opportunities between the Zambian manufacturers and members of the JXICC.
She explained that the agreement aimed at deepening economic co-operation and commercial ties through enhanced dialogue and collaboration between ZAM and JXICC.
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“It is anticipated that the signing of the MoU will not only strengthen and foster business linkages but contribute to an increase in foreign direct investment particularly in the JXICC MFEZ, and in so doing support the growth of the manufacturing sector in Zambia.
“The MoU is especially relevant to the growth of the manufacturing sector due to the significant potential it creates for accelerating industrialization and job creation through enhanced mutually beneficial interaction between Zambian manufacturers and members of JXICC,” she said.
Zulu-Chileshe said ZAM remained conscious of the potential impact of the MoU in contributing to poverty reduction through the promotion of value addition to agricultural produce in the vicinity of the MFEZ, for example.
She said this was in line with the government aspirations to mirror the successes of the MFEZ concept from Jiangxi in Zambia.
She said this would be done whilst simultaneously creating opportunities for the local manufacture of intermediate and finished products that could contribute to reducing the cost of production for local manufacturers amongst other positive externalities.
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