Zambia & SA commit to trade balancing

Zambia and South Africa have committed to addressing the trade imbalance that exists between the two countries.

The commitment was made by South Africa’s Minister for Public Enterprises Lynne Brown after Zambia’s High Commissioner – Designate to South Africa Emmanuel Mwamba called for increased cooperation in order to address the trade imbalance which has been in South Africa’s favour for a long time.

The two were speaking on Friday yesterday at a cocktail reception at the Zambian High Commission in Pretoria held to commemorate Zambia’s 51st Independence Anniversary at which Ms. Brown was the guest of honor.

And speaking in a speech read on her behalf by Ministry of Public Enterprises Acting Director Kgathatso Tlhakudi, Ms. Brown said South Africa had heard Zambia’s concerns and was ready to sit down with Zambia and find ways of achieving status that would benefit both countries.

Mr. Mwamba had earlier outlined the trading pattern between the two countries in which he pointed out that South Africa exported about 29 billion rand worth of goods and services while Zambia managed a mere one billion rand of exports to South Africa in 2014.

He pointed out that the High Commission, with the help of some Zambians resident in South Africa, was spearheading the formation of the Zambia-South Africa Business Council (ZSABC) which will be launched in Johannesburg on 30th October, 2015.

This is contained in statement made available to Qfm News by Press Secretary in the Zambian mission in Pretoria Nicky Shabolyo.