Lusaka: Zambia and Congo DR are in the next couple of weeks expected to sign an economic agreement to facilitate smooth trade between the two neighbouring countries, Commerce, Trade and Industry Minister Robert Sichinga has said. Mr Sichinga said there was an urgent need to explore the yawning market in Congo DR for locally produced goods.
He said a Zambian delegation will soon go to Congo DR where a trade agreement to involve both small-scale and commercial entities to trade with that country. "It is important for us to take advantage of the market in Congo DR because we are very close to that country," he said.
The minister said this when he toured Gourock Industries in Ndola’s heavy Industrial area. Mr Sichinga urged Gourock to exploit the Congo DR market now that the two countries were in the process of signing a trade agreement in a few weeks time.
Gourock Industries is a Ndola-based company that has ventured in the manufacturing of cooking oil, washing detergeants and bar soap.
Mr Sichinga also urged the company to engage peasant farmers through an out-grower scheme for them to grow palm oil that could be used for the manufacturing of cooking oil.
He also said commerce and trade ministers in Africa agreed at the last African Union (AU) summit to create Intra-Africa Trade Centres on all borders for Small and Medium enterprises to benefit.
He said through agreements under the Common Market for Eastern and Southern Africa (Comesa) and Southern Africa Development Community (SADC), the private sectors would be encouraged to exploit opportunities.
On Ndola’s economy, Mr Sichinga said the city had been depressed but that the government wanted to revive it so that it could retain its economic vibrance. He said Dangote would invest $500 million in a cement plant while the Trade Fair premises would be made more active to go alongside cluster industries for small and medium enterprises.
Gourock Industries chief executive officer Srinivasa Rao said the year 2012 was a crucial year for the company because it had to prove that it was a successful investment.
