Maravi

Zambia, DRC to sign trade deal

Zambia, DRC to sign trade deal
By Mutale Kapekele and Kasapo Chibwe
Fri 14 May 2010, 04:00 CAT

ZAMBIA and the Democratic Republic of Congo (DRC) have agreed to sign a trade agreement that will improve commerce between the two countries. The DRC has recently emerged as one of Zambia’s biggest export market and the trade volume between the two countries reached US $1 billion last year.

Briefing the press on the development, commerce minister Felix Mutati said the two countries had been trying to sign a trade agreement for a long time.

“Within two months, we shall sign a trade agreement which we have been trying to sign for some time now but was only delayed by the death of the commerce minister of Congo DR,” Mutati said.

“And within that period, we shall send a trade mission to Congo which shall include experts on private sector reforms, private public partnership and financial sector development to share the Zambian experience in these areas and also to learn from the reform activities being undertaken there.”

He said the trade volume which was recorded last year between the two countries, will be tripled once the agreement was signed.

Mutati said the trade agreement would address issues such as documentation by agreeing on standardisation in terms of food and trade facility measures.

And Congo DR Minister of Commerce Bernard Biando Sango said his country had a shared vision with Zambia due to the proximity and that they were working to maintain the good business climate.

Sango said policies would be put in place that will facilitate trade and the Congo DR was scrapping off trade inhibiting tariffs such as the presidential tax which had now been abolished.

Sango added that Congo and Zambia were working on a construction project at Kasumbalesa border post which, when completed, would help facilitate trade movements between the two countries.

Labels: BERNARD BIANDO SANGO, DRC, KASUMBALESA, TRADE

posted by MrK @ 4:13 AM