PRESIDENT HICHILEMA CHALLENGES TECHNOCRATS
By Brian Mwale
President HAKAINDE HICHILEMA has challenged Zambian technocrats to target increasing investments from the European Union -EU- to over 5 billion Euros.
President HICHILEMA says the current 1.6 billion Euros worth of investments in Zambia from the EU is not something to be proud of considering the regional block being an economic giant.
Gracing the first ever EU -Zambia Economic Forum in Lusaka today whose theme is “Economic Transformation through Green Growth”, President HICHILEMA tasked the organizers to set a period within which they should attract over 5-billion Euros from the EU which has been trading with Africa for years.
He said Zambia’s target of increasing annual copper production from the current 850,000 metric tonnes to three million metric tonnes is partly reliant on more investments attracted from the EU.
The Head of State expressed confidence of fruitful results emanating from the dialogue at the forum.
President HICHILEMA however appealed for opening of the EU market for Zambia because accessing it has been difficult at times.
He said Zambia should reciprocate the gesture as foreign investors have also faced some challenges setting up base because of the poor working culture by some civil servants like Ministers and Permanent Secretaries.
President HICHILEMA told the gathering that his administration is focusing on economic diplomacy because it is key in job creation, attracting of investments and improving the welfare of the masses.
He was however quick to note that driving an economic agenda for Zambia does not amount to being a bootlicker of the west or an agent of imperialists.
President HICHILEMA said Zambia’s economy will only be strong if Zambian businesses are strong as is the case with Europe.
And the EU Committed to putting in place conditions that will enhance trade with Zambia by taking advantage of a conducive investment environment.
EU Commissioner for Agriculture JANUSZ WOJCIECHOWSKI noted the need to forge ties and take advantage of Zambia’s investment opportunities in the agricultural sector.
He added that removing trade tariffs among African countries is not the only answer to promoting intra Africa trade but harmonizing trade policies and investment environments.
The African Union -AU- said there is need for the continent to mobilize investments that will carter for the African Continental Free Trade Area while increasing its share of the global market.
AU Commissioner for Economic Development, Trade, Industry and Mining ALBERT MUCHANGA, said about 279 trillion dollars is available for investments across the globe annually but wondered why Africa only attracts a small portion.
Mr. MUCHANGA revealed that an African Observatory has since been established to help the continent increase its stake in the global investments funds.
He said the AU is looking at enhancing domestic revenue and grow African economies between 7 and 10 percent so that there is enough revenue for sustainable development.
And, Commerce Minister CHIPOKA MULENGA reiterated his Ministry’s commitment to implementing policies that will transform the country.
Mr. MULENGA said the aftermath of such economic engagements with the EU are critical in ensuring that issues discussed come to fruition.
He stated that Zambia is more focused on attracting investments and technology from the EU that will promote value addition.
The minister said Zambia has availed 250,000 hectares of land for mechanized farming as the country looks to increase agro exports to the EU.