ZDA PARTNERS WITH EIPA TO EXPAND INVESTMENT, TRADE RELATIONS
Zambia Development Agency (ZDA) has partnered with Eswatini Investment Promotion Authority (EIPA) to develop stronger business relations.
The areas of cooperation include investment, trade promotion and facilitation, exchange of information on trade, investments, incentives, policies, regulations and investment opportunities, among others.
Speaking during the signing of a Memorandum of Understanding, ZDA Board Chairperson Biemba Maliti urged the two parties to come up with a clear strategy to implement the partnership.
Professor Maliti stressed the need for ZDA and EIPA to work together to promote investment and skills transfer for the development of key economic sectors in both countries.
He noted that both countries are endowed differently, therefore working together could help grow the industries in both countries.
““We can enhance our bilateral trade agreements to provide better incentives for private sector engagement through initiatives such as investment summits, trade missions, and establishing clear guidelines for cross-border investments will help attract mutual investment,” Professor Maliti stated.
And ZDA Director General Albert Halwampa said the signing of the MoU is a symbol of commitment to strengthen efforts to improve trade and investments between the two countries and the region.
Mr. Halwampa highlighted the focus areas of collaboration as agriculture and agro-processing; Tourism, culture, and heritage; Infrastructure development and connectivity; Energy sector; Education and skills development; Human capital development; and Trade facilitation and policy harmonization.
Meanwhile, EIPA Board Chairperson Theo Hlophe noted that the MoU signing was a great milestone for both countries, emphasizing that the interactions should be country to country and not Agency to Agency.
“The two countries should take advantage of their geographic location as land-linked countries to trade and invest in each other’s countries,’ Mr. Hlophe stated.
And EIPA Chief Executive Officer, Sibani Mngomezulu expressed the need for the two institutions to learn from each other and work together for the greatness of the two countries.
“EIPA is a sister to ZDA and the MoU will make us seamless in our operations,” Mr. Mngomezulu said.
The agreement further sets forth the procedures of cooperation for the expansion of investment and trade relations between Eswatini and Zambia, strengthening institutional relations and capacity building through mutual cooperation.
The two institutions will also encourage and support the exchange of technical expertise, knowledge and training opportunities, facilitate linkages of exporters from each other’s country to buyers in the local markets and encourage linkages and partnerships between SMEs from both countries.
In addition, ZDA and EIPA will work together in organizing business missions related to trade and investment, participate in exhibitions, meetings and conferences and cooperate in implementing a sustainable strategy for a variety of capacity-building and development activities of common interest.
This is according to ZDA Head Communications and Public Relations, Kwali Mfuni.
