Zambia,DRC ink trade deal

Commerce Minister Margret Mwanakatwe

Zambia and the Democratic Republic of Congo (DRC) have signed a bilateral trade agreement that will allow both countries to import goods from each other duty free.

The trade agreement will however, only be functional after the two countries finalize the two signed addendums of lists of goods each of them will be importing from each other as per agreement.

Commerce, Trade and Industry Minister Margerate Mwanakatwe who signed on behalf of Zambia has disclosed that the Zambian and Congolese governments have also agreed that goods listed on the two addendums will be subject to review as more goods will be added to the lists.

Ms. Mwanakatwe says the signed trade agreement also covers provisions that would enable Zambia and the DRC to adopt measures to deal with unfair trade and curbing of smuggling.

She notes that this is in addition to facilitating the exchange of information between border authorities from both countries and the establishment of common border infrastructure such as banks and trade centers.

Ms. Mwanakatwe states that the trade agreement further makes provisions for both countries to take among other necessary measures the protection of national security interests and public health.

She says the agreement thus offers great scope and opportunity for both the DRC and Zambia to also maximize production in value added products.

And DRC Minister of Trade Nefertiti Ngudianza who signed on behalf of her country is confident that such elimination of trade barriers as Zambia and Congo have done will lead to single development of both countries.

Ms. Ngudianza says for fact that Zambia has become the first country the DRC has signed such an agreement with, it is a sign that both countries now need to liberalize the commercial chain.

She states that in spite of the two countries currently sharing the same resources, it is noteworthy underling that there is still the possibility of both of them taking comparative advantage of each other.

Ms. Ngudianza says the private sector of both Zambia and the DRC is in this case expected to take advantage of the opportunities that various industries will offer as facilitated by the trade agreement.

The Congolese Minister spoke through an interpreter.