Zambia seen a steady recovery in performance of non-traditional exports – Yaluma

Christopher Yaluma

Commerce, Trade and Industry Minister Christopher Yaluma says the country has seen a steady recovery in the performance of non-traditional exports in 2017 from US$1.88 billion recorded in 2016 to US$1.96 billion.

Speaking when he officiated at the signing ceremony of two loan agreement worth US$106,250 between the Zambia Export Development Fund (ZEDEF), a fund managed by the Zambia Development Agency, and two local entrepreneurs Zamwood Furnishers General Dealers Limited and Luwi Investment Limited to boost their businesses, Mr Yaluma says non-traditional exports have witnessed an exponential growth in export revenue following government’s tireless efforts to promote the growth of non-traditional exports.

He says non-traditional exports which stood at US$1.4 billion in 2009 reached the highest peak at US$3.5 billion in 2013 before the downward trend experienced in the period 2014 to 2016.

Mr Yaluma has attributed the growth in non-traditional exports over the past two decades to deliberate reform measures undertaken by the government in the early 1990s which attracted interest from cooperating partners to support government initiatives aimed at promoting the growth of export trade.

Speaking at the same event, Zambia Export Development Fund (ZEDEF) Manager David Chewe reaffirmed the fund’s commitment to see to it that it further deepens its collaboration with the European Union and other stakeholders in increasing its portfolio of non-traditional exports through financial support to exporting Micro and Small Enterprises.

And ZDA Acting Director General, Cecilia Nyalugwe commended the European Union for providing the seed money promising that ZDA will undertake all necessary measures to grow and ensure that the fund is a success story not only in Zambia, but in the region as well.

And EU Head of Delegation to Zambia and COMESA Allessandro Mariani advised the two beneficiaries to use the money for its intended purposes taking into consideration that they will have to pay back.

Mr. Mariani also hailed the remarkable friendship between Zambia and the European Union which over many years of close collaboration has seen the establishment of a solid, dynamic and widening partnership.