Posted: August 12, 2019
Trade and Investment Mission an Indication of Commitment of SA to Zambia
|The Outward Trade and Investment Mission to Lusaka and Kitwe, Zambia from 12-16 August 2019 is an indication of the importance of Zambia to South Africa. This was said by the South African Acting High Commissioner to Zambia, Mr Marx Cameron. Cameron was addressing the South African business representatives on their arrival in Zambia ahead of a week-long trade and investment mission.
The mission consists of a delegation of 28 South African businesspeople and is led by the Department of Trade and Industry (the dti) with the aim of facilitating market access and expose the South African companies to the Zambian market while deepening bilateral trade relations.
According to Cameron, the mission is a clear indication that South Africa regards Zambia as a key and strategic partner.
“The National Bi-National Commission agreement signed between South Africa and Zambia during President Cyril Ramaphosa’s State visit in 2018, and the trade and investment mission, amongst others, are both a clear indication that South Africa regards Zambia as a key and strategic partner and an indication of South Africa’s commitment to address the skewed trade imbalance between the two countries and commitment to the trade relations,” said Cameron
Total exports to Zambia between the period of January-May 2019 amounted to R12, 4 billion and total imports from Zambia amounted to R1,1, billion, with a total trade amounting to R13,5 billion.
“These numbers depict a very unbalanced trade and which is a concern and important factor in the development of South Africa and Zambia trade relations,” added Cameron.
He also told the businesspeople that a significant focus of the mission’s trade promotion work included working with South African companies based in Zambia to expand the manufacturing of products that can form part of their local and regional value chains.
“Promoting Industrialisation and the creating a manufacturing base in Zambia can assist in balancing the trade imbalance. The Zambians have high regard for South Africa and appreciate interaction at all levels, and thus South Africa should continue to leverage this goodwill from the Zambians. I encourage you to maintain the good quality of products you trade with Zambia, form collaborations, invest in the country and include the locals in the value chain while doing it honestly and transparently,” added Cameron.
The participating companies are funded by the dti through its Export Market and Invest Assistance scheme (EMIA). State-owned development finance institutions such Export Credit Insurance Corporation of South Africa and the Industrial Development Corporation, and export councils such as the South African Electro-Technical Export Council, South African Capital Equipment Export Council, and the Steel Tube Export Association of South Africa are part of the delegation.