Zambia becomes 56th member of OECD development center

Zambia has reportedly been admitted as the 56th member of the Organisation for Economic Cooperation and Development (OECD) Development Centre, marking a significant milestone in the nation’s international economic engagement.

Tourism Minister, Rodney Sikumba, accepted the membership on behalf of the Minister of Finance and National Planning during the 9th High-Level Meeting of the OECD Development Centre’s Governing Board in Paris on December 9, 2024.

“This membership will help Zambia thrive in the global arena through better policy design, ensuring tangible economic progress at optimal cost,” Sikumba stated, according to a statement issued in Lusaka by Naomi Mweemba, First Secretary Press at Zambia’s Embassy in Paris.

Sikumba highlighted the Centre’s role in providing policy analysis and strategic support to Zambia, focusing on sustainable economic development, governance, and social inclusion.

He stated that the membership would enhance Zambia’s ability to attract international investments, address poverty, and foster green, inclusive growth.

“The OECD Development Centre will assist Zambia in creating climate-resilient policies, especially in renewable energy and sustainable infrastructure, which are crucial for investment diversification,” he said.

He added that Zambia’s admission comes at an opportune time, coinciding with the country’s preparations for its second Investment Policy Review with the OECD, set to begin in 2025.

The 18-month review will focus on improving investment incentives, boosting value-added manufacturing, and addressing climate and energy challenges.

The review aligns with President Hakainde Hichilema’s strategy to position investment as a key driver of economic growth and job creation.

“This collaboration provides Zambia with an opportunity to refine policies, foster multilateral trade partnerships, and access tailored financing solutions to tackle its challenges,” Sikumba noted.

The OECD Development Centre, established in 1961, brings together developed and developing nations to share expertise and strategies for sustainable growth, fostering dialogue on inclusive global development.

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