ZAMBIA HAS POTENTIAL -MULENGA

 

Commerce, Trade and Industry Minister CHIPOKA MULENGA says Zambia has potential to increase its exports to Israel to at least 1 billion United States dollars.

Mr. MULENGA said Zambia currently imports 163 million United States dollars from Israel and exports to that country 3 million dollars’ worth of trade and investment.

Speaking in Lusaka when he officially opened the first ever Israel-Zambia economic conference, Mr MULENGA however, said this represents a trade imbalance between the two countries.

He said the two countries have potential to resolve the trade imbalance.

The Minister encouraged Israeli investors to take full advantage of the enabling business environment in Zambia.

He said government is keen to learn from Israel regarding technology and innovation.

Meanwhile, the Minister said he will engage his Foreign Affairs and International Cooperation counterpart, STANLEY KAKUBO on the possibility of having an Israeli embassy located in Zambia.

At the same event, Israeli Ambassador to Zambia, OFRA FARHI, said Zambia’s private sector driven economic agenda will attract Israeli investment.

Ms FARHI said this is because both countries have placed the private sector at the centre of economic growth.

The diplomat said Zambia can be an example to other African countries regarding trade and investment relations with Israel.

 

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