Mutati in Brazil for South to South development cooperation

Minister of Finance Felix Mutati in Brazil

Minister of Finance Felix Mutati has arrived in Brazil for bilateral talks on strengthening south to south development cooperation.

The Minister was met on arrival in Brasilia, the Capital of the Giant South American Country, by Zambia’s Defence Attache, Colonel Godwin Chenda.

During a courtesy call on the Zambian Mission, Col Chenda, who was standing-in for the Ambassador Designate to Brazil Elfreda Kansembe, called on Zambia’s private sector to venture in the western hemisphere; including Latin America, for trade and investment opportunities in areas such as crop agriculture, livestock development, manufacturing, tourism, public transport investment, sustainable energy development, infrastructure development, scientific research, technological transfer.

And speaking at the same event, Mr. Mutati acknowledged that as the eighth largest economy in the world and the fifth largest by both population and size, Brazil is an important partner considering that her stock of Foreign Direct Investment abroad surpassed US$ 300 billion in 2016.

During the visit to Brazil, Mr. Mutati is scheduled to meet the Secretary for International Affairs Professor Marcello Estevao who is also the Vice Minister for Finance and hold discussions with the Brazilian Development Bank, BNDES.

Brazil’s current interests in Zambia are mostly skewed towards the mining sector through the involvement of VALLE and U&M in Lubambe and Konkola Copper Mines.

This is contained in a statement issued to QFM News by Ministry of Finance Head of Public Relations Chileshe Kandeta.