- During a visit to Dubai Chamber, HE Edgar Chagwa Lungu calls on UAE companies to explore attractive investment and trade opportunities emerging across Zambia
- Agriculture, food processing, tourism, renewable energy, logistics and commodities identified as priority sectors where UAE companies and Zambian counterparts can boost cooperation
Dubai, UAE: Recent statistics show vast untapped potential to boost Zambian exports to the UAE and further explore bilateral business opportunities, HE Edgar Chagwa Lungu, President of the Republic of Zambia, said yesterday during a visit to Dubai Chamber of Commerce and Industry’s headquarters.
A high-level delegation led by the Zambian President was received by H.E. Majid Saif Al Ghurair, Chairman of Dubai Chamber; H.E. Ali Al Shafar, Board Member – Dubai Chamber; Hassan Al Hashemi, Vice President, International Relations, Dubai Chamber; Omar Khan, Director of International Offices, Dubai Chamber; and prominent UAE business leaders, many of whom head companies that have already established a presence in Africa.
Joining the President in the meeting with Dubai Chamber officials were Hon. Joseph Malanji – Foreign Affairs Minister of Zambia; Hon. Christopher Bwalya Yaluma – Minister of Commerce of Zambia; H.E. Chalwe Lombe – Foreign Affairs Permanent Secretary of Zambia; H.E. Ambassador Ibrahim Mumba – Zambian Ambassador to Saudi Arabia; and H.E. Duncan Mulima – Zambian Consul General in Dubai.
During the meeting, H.E. Lungu called on UAE companies to explore attractive investment and trade opportunities that are emerging across Zambia as the country looks to diversify its economy and create an investor-friendly business environment.
H.E. Lungu said the UAE and Zambian companies would benefit by expanding their cooperation in key sectors of mutual interest, namely agriculture, food processing, tourism, renewable energy and commodities, adding that his country is in scaling up energy infrastructure and attracting investments for solar power projects.
He highlighted several advantages that Zambia offers foreign investors and companies, such as its strategic location offering easy access to other promising markets in Southern Africa, fast-growing population, rising consumer demand, developing mining sector and the availability of fertile farmland.
Addressing the Zambian delegation, H.E Al Ghurair described the Zambian President’s visit to the UAE as an important development that has established an open and constructive dialogue on new ways that the two countries can collaborate and build bridges between their business communities. He noted that Dubai Chamber’s representative office in Mozambique closely monitors the business landscape in Zambia and other countries in Southern Africa, adding that it can provide resources and support to Zambian companies that are keen to learn more about Dubai and explore growth opportunities in the market.
Dubai Chamber’s Chairman echoed the Zambian President’s call to expand Dubai-Zambia non-oil trade, which has increased steadily in recent years to reach $206 million in 2018. The current timing is ideal for Zambian companies to visit Dubai and establish a presence in the emirate, HE Al Ghurair said, adding that Expo 2020 would offer plenty of opportunities to advance UAE-Zambia economic cooperation.