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Zambia has signed an agreement with the United States of America (USA) on the development and implementation of commercial projects in the country.
According to Minister of Commerce, Trade and Industry, Chipoka Mulenga, the agreement signed on Tuesday in Lusaka, caters for a wide range of investment sectors including capacity building for Small Medium Enterprises (SMEs) and technical assistance for bankable projects.
Mulenga said the agreement will also aim at offering support for the growth of youth and women led business in Zambia.
This will boost the participation of youth and women aimed at decreasing rural poverty through green growth.
He said the signing of the agreement is as a result of President Hakainde Hichilema’s visits to the USA and subsequent meeting with the Secretary of Commerce.
“It is indeed a happy occasion as this marks another milestone in the government’s agenda of promoting economic diplomacy and strengthening economic ties between our two countries, Mulenga said.
He said government has prioritised agriculture and agro-processing, energy and environment, mining and mineral processing, manufacturing, tourism, information technology/ and Information Communication Technology (ICT)/digital transformation, infrastructure and transportation as well as education as key areas of focus to help us turn around the economy.
Mulenga has since invited the US business community to come and invest in some of these areas as it will undoubtedly, increase job creation and enhance economic development which speaks to the government agenda.
Meanwhile, US Ambassador to Zambia, Micheal Gonzales, pledged to ensure that action and results are seen as the two countries drive the agreement forward and continually foster the bilateral commercial engagement
“So, today, I am thrilled to add to this list…As Vice President Harris announced in her historic visit to Zambia just two days ago, Zambia and the United States will sign a Memorandum of Understanding that will set forth a direction for our commercial engagements,” he said.
Contributed by Augustine Sichula
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