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Zambia, DR Congo to sign trade pact

Zambia, DR Congo to sign trade pact
By Kabanda Chulu in Kitwe
Thu 17 Feb. 2011, 04:01 CAT

ZAMBIA and the DR Congo will next month sign a trade agreement aimed at enhancing business activities between the two countries estimated to be worth US $1 billion per year.

The Zambian government is also considering establishing a One-Stop Border Post at Kasumbalesa once the bilateral trade agreement is signed that will allow for harmonisation of customs’ policies. In an interview, commerce permanent secretary Buleti Nsemukila said the Democratic Republic of Congo was becoming a major trading partner.

“There is potential in DR Congo and there are several local goods that can be sold in that country including agriculture produce such as poultry, vegetables and several other food items and we are seeing about US $1billion worth of trading activities between our two countries,” said Dr Nsemukila.

“In order to tap into this potential, we shall sign a trade agreement by next month and it will be a stepping stone for many things including the establishing of the OSBP at Kasumbalesa, which now has modernised customs facility.”

Despite having the largest neighbouring space with the DR Congo, Zambia has failed to fully penetrate the market potential in that country.

Labels: DRC, REGIONAL INTEGRATION

posted by MrK @ 8:28 AM