LUSAKA. – President Edgar Lungu says he expects trade exports to India to exceed $1 billion by the end of this year.
President Lungu regretted that Zambia’s exports to India are less than $800 million.
President Lungu has since challenged the business community to take advantage of the bilateral and trade ties that exist between Zambia and that country.
The Head of State said this during the Zambia-India Business Forum held in Lusaka yesterday.
The Forum is organised by Government through the Ministry of Commerce, Trade and Industry under the auspices of the Zambia Development Agency(ZDA).
President Lungu said government through the Seventh National Development Plan (7NDP), wants to promote and accelerate trade by diversifying Zambia’s economy through a resilient but robust industrialised path or agenda.
He said to achieve this agenda, the private sector is key in participating in the activities that will help grow the country’s economy.
The Head of State noted that Zambia is endowed with abundant natural resources such as water, land and good soils that can spur economic growth.
The President said this is also evidenced by a number of visitations by former Republican Presidents as well as current serving government officials from India and other countries.
The visiting President of India Ram Nath Kovind disclosed that his country would continue assisting Zambia become a regional hub for pharmaceutical products since it imports most of her medicines.
The Indian President said trade investment between his country and Zambia would soon hit $5 billion in key sectors of the economy such as energy, tourism, education, health among others. – Lusaka Times