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November 5, 2024
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Zambia Signs MoU to Enhance Trade via Lobito Corridor

The Ministry of Commerce, Trade and Industry (MCTI) has signed a Memorandum of Understanding (MoU) with the National Quality Institutions (NQI) to implement the Lobito Corridor Trade Facilitation Project, backed by an $8.1 million grant from the African Development Bank.

This initiative aims to improve both domestic and cross-border trade between Zambia, Angola, and the Democratic Republic of Congo (DRC).

The NQI consists of key regulatory bodies, including the Zambia Metrology Agency (ZMA), Zambia Bureau of Standards (ZABS), Zambia Compulsory Standards Agency (ZCSA), and the Competition and Consumer Protection Commission (CCPC). These institutions will play a vital role in streamlining trade facilitation processes, advancing corridor development, and increasing small and medium enterprise (SME) participation in essential sectors such as agriculture, mining, and construction.

During the signing ceremony, MCTI Permanent Secretary Ms. Lillian Bwalya highlighted that the project will provide training for cooperatives and SMEs in quality assurance and product standardization, creating new market opportunities at local, regional, and international levels.

“The Lobito Corridor offers Zambian businesses a faster route to seaports for exports from the Copperbelt and North-Western Provinces,” Ms. Bwalya noted, adding that SMEs, particularly in agriculture, will greatly benefit as the corridor develops.

Angola, which currently imports a substantial portion of its food from Brazil, represents a promising market for Zambian agricultural products.

The enhancement of transport infrastructure along the Lobito Corridor, including a railway from Chingola to Angola and an all-weather road from Mwinilunga to Jimbe, will further promote trade and regional integration.

The MoU also includes plans to train over 40 agricultural cooperatives and SMEs in product standardization, with a total value of $65,000 (ZMW 1.7 million).

Zambia Metrology Agency Executive Director Mr. Humphrey Nkobeni expressed gratitude for the support received through the project, emphasizing that SMEs will benefit not only from improved quality standards but also from financial assistance aimed at enhancing market competitiveness.

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