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Zambia and Japan are set to enter into bilateral investment agreement with an objective of boosting investments between the two countries, authorities have said.
Japanese Ministry of Foreign Affairs Director General for African Affairs Department, Toshihiko Horiuchi, said his government would like to accelerate the negotiation process towards an early conclusion of the agreement.
Horiuchi said this in a speech read on his behalf by Deputy Director African Division at the Ministry of Foreign Affairs, Kenichiro Matsubayashi, during Zambia’s 59th Independence reception in Tokyo.
The reception was held under the theme “Accelerating National Development Through Equitable Distribution of Resources” according to a statement issued by Faith Chilube, Zambia’s First Secretary for Press and Public Relations in Japan.
“A bilateral investment agreement is underway between Zambia and Japan with an objective of boosting investments between the two countries. Zambia is a country endowed with critical mineral resources such as copper,” he said.
Horiuchi reiterated that as the importance and scarcity of mineral resources attract increasing international attention, especially in the global decarbonisation efforts, the strategic roles that Zambia could play are increasingly important.
“I wish to extended my heartfelt congratulations to the people and government of the Republic of Zambia on its 59th Independence Day. As we all know, our two nations share a unique memory about Zambia’s independence,” Horiuchi said.
Zambia’s Ambassador to Japan, Tobias Mulimbika, encouraged the Japanese mining companies to consider taking advantage of such cooperation to invest in Zambia in the field of exploration of minerals.
He said this was essential for electric vehicles and other products as the country was endowed with critical minerals such as Cobalt, Nickel, Copper, Lithium, Gold among others.
“Zambia is centrally located in Southern Africa surrounded by many neighbouring countries with important road corridors traversing through Zambia,” Mulimbika said.
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He added that Zambia was committed to further strengthening bilateral relations with Japan in the diversification of the supply system in critical resources to eventually meet the country’s goals through joint investments.
Meanwhile, Japan Zambia Friendship Association Chairman, Katsumi Yamaguchi, said he looks forward to working with everybody to continue to improve ties and relations between the two countries.
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