By MWANGALA KAPANDULA –
International trade in this era plays a vital role in fostering the development of trade linkages and creating larger markets for companies and countries to achieve social and economic growth.
Countries trade for different reasons, ranging from transfer of skills and technology and the distribution of economic resources as nations may differ in their endowment.
For a country like Zambia, which is endowed with a vast array of natural resources such as copper, virgin land, water bodies, oil, gold, wildlife, among others, trade and investment is a necessary vehicle which is vital to turn the wheels of economic development.
Government is committed to rebuilding the economy, delivering jobs and improving livelihoods of the people of Zambia.
This has been President Hakainde Hichilema’s emphasis on many occasions, staring from his inaugural speech to opening of the 13th session of Parliament where he expressed his desire to improve the lives of the people.
To achieve this goal, Mr Hichilema saw it fit to create a ministry of Small and Medium Enterprise Development to promote trade and investment opportunities for Zambian businesses.
The Government is also making strides in creating trade synergies at the global and regional fronts since trade is a catalyst to enhancing broader markets.
It also enhances competition and development.
It is from this background that the Head of State accepted the invitation of King Sheikh Mohammed Bin Rashid Al Maktoum who is the Vice President and Prime Minister of the United Arab Emirates (UAE) to attend the World Expo 2020 in Dubai.
Zambia was among 192 countries participating at the Expo 2020 Dubai which is the oldest and largest international event lasting for six months.
The expo started last year on October 1 and will run through to March 31 2022.
Everyday, each participating country is accorded an opportunity to showcase what it has to offer.
The Expo 2020 was originally scheduled to take place on October 20, 2020, to April 10, 2021, but was postponed due to the COVID-19 pandemic.
Despite being postponed,organisers kept the name Expo 2020 for marketing and branding purposes.
The purpose of holding the expo was to showcase human ingenuity in recognition of collaboration and partnerships as today’s engines of growth.
President Hakainde Hichilema graced Zambia’s national day at the expo which fell on January 20, 2022, under three themes focusing on opportunity, mobility and sustainability.
Zambia is participating under the sub-theme opportunity whose country theme is “Come to Zambia ALand of Peace and Opportunities.”
President Hichilema maximised his presence at the expo to market Zambia at global level focusing on key economic sectors such as mining, agriculture, energy, infrastructure, tourism, as well as climate change.
Mr Hichilema is determined to move Zambia to higher heights of technological advancement in the area of Electric Vehicles (EVs), among others.
He said Zambia is a key component to the future of the global economies due to its vast array of natural resources needed to move the world in a different dimension.
He said the copper assets that the country has is key to clean and green energy in transforming the automobile industry, moving away from fossil fuel driven vehicles to electric ones.
Minister of Tolerance and Coexistence, who is also Commissioner General of the Expo 2020, Sheik Nayayan Mubarak Al Nahayan, appreciated the 48 years of long standing bilateral ties that exist between Zambia and the UAE.
The President later toured the Zambian and UAE pavilion where 50 Zambian companies are participating at the expo.
He was later hosted by the Expo 2020 media team who carried out an interview with him, where over 300 registered media outlets obtained content in Dubai.
Mr Hichilema told the journalists that investing in green energy is important in order to stabilise the negative effects that have come with climate change.
“We see the partnership with the UAE in the renewable energy sectors as I said earlier, in raw mining and production, in value addition, processing and we see valuable partnership in other renewable energy sectors such as solar, wind energy, hydro energy; the potential is huge in our country,” he said.
Mr Hichilema further explained that the cost of doing business in Zambia, especially in water resources, is cheaper due to the massive water bodies.
He said the abundant crop diversity makes the agriculture industry a viable area of investment.
President Hichilema further said food processing and value chains are important in the food industry.
He encouraged investors to consider those areas.
In the tourism sector, the President said Zambia is developing a strategy to make the sector sustainable, citing the country’s natural features, such the Victoria Falls and wild life as important components.
He said sustainable development is key in developing countries and needs to be incorporated by policies, laws and regulations, taking account of the need to meet to the Sustainable Development Goals (SGDs).
“The operation of our economic sectors takes into account the minimum obligations because that way, we shall be a responsible generation,” he said.
President Hichilema also held a number of closed door meetings in the capital, Abu Dhabi, with different potential investors.
In order to open up business opportunities and to promote trade and investment, Zambia and the UAE signed a number of memoranda of understanding.
The President is optimistic that the two countries will cement a strong foundation that will enhance trade, investment and open business opportunities for their peoples.
“We have the potential in our country.We are here to change the way things are done to accelerate development within our countries and you can count on us,” President Hichilema.
Abu Dhabi Chamber of Commerce Chairman Abudullah Al Mazrui emphasized the need for the two countries to work together.
“We want the two countries to engage in business and exchange plans among the business communities, Zambia and the United Arab Emirates, “he said.
Zambia Chamber of Commerce president Chabuka Kaswesha signed the MoU on behalf of Zambia.
He said the MOU opens up potential business linkages that will make it easy for Zambians to do business in the UAE, Middle East and North Africa.
On the margins of the Expo 2020, Zambia held media briefings and a business forum.
Minister of Commerce Chipoka Mulenga spoke highly of Zambia’s abundant human resource.
He said he was looking for partners to transfer knowledge and skills to the energetic Zambian youths.
Mines and Minerals Development Minister Paul Kabuswe said Zambia has natural resources which need to be maximized.
He said the country needs to move away from exporting raw materials.
Energy Minister Peter Kapala said investors are needed in the areas of green and clean energy.
Agriculture Minister Rueben Phiri said Zambia wants to graduate from importing fertilizer and wants to an investor to start production of fertilizer.
In an effort to woo more tourists in the tourism sector, Tourism Minister Rodney Sikumba said the hospitality industry needs boosting especially in areas of investing in conference facilities and accommodation in order to earn foreign exchange.
The expo has opened Zambia to the world and one can only hope that investors come to Zambia, the land of peace and opportunities.-ZANIS.