Business / International
Zimbabwe and Zambia Strengthen Bilateral Trade Ties Amid Shifting Global Dynamics
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Mt Hampden, Zimbabwe - In a bid to fortify economic cooperation, Zimbabwe and Zambia have outlined clear strategies to enhance their bilateral trade, emphasizing collaboration and mutual growth in light of shifting global geopolitical and economic dynamics. The renewed commitment was reaffirmed during high-level talks between Zambia's Minister of Commerce, Trade and Industry, Honourable Chipoka Mulenga, and Zimbabwe's Minister of Foreign Affairs and International Trade, Professor Amon Murwira, held on the sidelines of the 34th Southern African Development Community (SADC) Committee of Ministers of Trade meeting in Mt Hampden.
Addressing Trade Barriers
A key focus of the discussions was the identification and removal of Non-Tariff Barriers (NTBs) that have hindered the free flow of goods and services between the two neighboring nations. Both ministers agreed on the importance of tackling these impediments to ensure smoother and more efficient trade across their borders.
To this end, the ministers resolved to establish Joint Technical Teams that will focus on resolving trade bottlenecks and fostering regional investment. The creation of these teams is expected to pave the way for stronger economic relations between the two countries and enhance regional integration within the Southern African Development Community (SADC).
Strengthening Historical Ties
In his remarks, Honourable Chipoka Mulenga expressed the depth of the relationship between Zambia and Zimbabwe, referring to the two countries as "Siamese twins," united not only by geographical proximity but by deep-rooted historical ties.
"Beyond the Victoria Falls that join us, we have got strong historical ties post and pre-independence and that should continue to grow from strength to strength. We believe that you cannot share poverty; you can only share wealth. So wealth must be created between the two of us," Mulenga said.
A Vision for Sustainable Regional Collaboration
The Zambian minister emphasized the importance of intra-African investment and collaboration, viewing it as the key to achieving economic self-sufficiency. In light of global disruptions, including supply chain challenges, he called for African nations to rethink their trade strategies.
"We are talking about regional integration within Southern Africa, COMESA, and now the African Continental Free Trade Area (AfCFTA). But for this to be a reality, neighbors must work together through enhanced trade. We must support Zambian and Zimbabwean businesspeople to invest in each other's countries, rather than solely relying on overseas investors," Mulenga noted.
Both ministers acknowledged that the global economic landscape is rapidly changing, and Africa must position itself as a resilient and adaptive force. They highlighted that the continent's long-term success will rely on strengthening intra-regional trade relationships, with Zimbabwe and Zambia taking the lead.
Advancing SADC's Industrialisation Agenda
The discussions took place within the broader context of SADC's ongoing efforts to promote industrialization and economic integration across the region. At the 34th Committee of Ministers of Trade and the 24th Ministerial Taskforce on Regional Integration, SADC leaders committed to advancing the region's industrialization agenda and eliminating enduring barriers to regional economic cooperation.
This resolution is in line with the goals of the African Continental Free Trade Area (AfCFTA), which aims to foster deeper trade ties across the continent and eliminate tariffs and barriers that have historically stifled economic growth. The decision to focus on industrialization will be pivotal in boosting Africa's capacity to compete on the global stage.
A Path Forward
The Zambia-Zimbabwe engagement marks a new chapter in bilateral trade relations between the two countries, with both sides keen to address the challenges that hinder economic growth. By working together to eliminate trade barriers, invest in each other's economies, and build a more resilient regional trading bloc, Zimbabwe and Zambia are positioning themselves as leaders in the drive towards greater economic integration within Southern Africa and beyond.
As the African continent reassesses its place in a rapidly changing world, the continued collaboration between Zimbabwe and Zambia sets a powerful example for the rest of the region on the importance of unity and shared prosperity.
Addressing Trade Barriers
A key focus of the discussions was the identification and removal of Non-Tariff Barriers (NTBs) that have hindered the free flow of goods and services between the two neighboring nations. Both ministers agreed on the importance of tackling these impediments to ensure smoother and more efficient trade across their borders.
To this end, the ministers resolved to establish Joint Technical Teams that will focus on resolving trade bottlenecks and fostering regional investment. The creation of these teams is expected to pave the way for stronger economic relations between the two countries and enhance regional integration within the Southern African Development Community (SADC).
Strengthening Historical Ties
In his remarks, Honourable Chipoka Mulenga expressed the depth of the relationship between Zambia and Zimbabwe, referring to the two countries as "Siamese twins," united not only by geographical proximity but by deep-rooted historical ties.
"Beyond the Victoria Falls that join us, we have got strong historical ties post and pre-independence and that should continue to grow from strength to strength. We believe that you cannot share poverty; you can only share wealth. So wealth must be created between the two of us," Mulenga said.
A Vision for Sustainable Regional Collaboration
"We are talking about regional integration within Southern Africa, COMESA, and now the African Continental Free Trade Area (AfCFTA). But for this to be a reality, neighbors must work together through enhanced trade. We must support Zambian and Zimbabwean businesspeople to invest in each other's countries, rather than solely relying on overseas investors," Mulenga noted.
Both ministers acknowledged that the global economic landscape is rapidly changing, and Africa must position itself as a resilient and adaptive force. They highlighted that the continent's long-term success will rely on strengthening intra-regional trade relationships, with Zimbabwe and Zambia taking the lead.
Advancing SADC's Industrialisation Agenda
The discussions took place within the broader context of SADC's ongoing efforts to promote industrialization and economic integration across the region. At the 34th Committee of Ministers of Trade and the 24th Ministerial Taskforce on Regional Integration, SADC leaders committed to advancing the region's industrialization agenda and eliminating enduring barriers to regional economic cooperation.
This resolution is in line with the goals of the African Continental Free Trade Area (AfCFTA), which aims to foster deeper trade ties across the continent and eliminate tariffs and barriers that have historically stifled economic growth. The decision to focus on industrialization will be pivotal in boosting Africa's capacity to compete on the global stage.
A Path Forward
The Zambia-Zimbabwe engagement marks a new chapter in bilateral trade relations between the two countries, with both sides keen to address the challenges that hinder economic growth. By working together to eliminate trade barriers, invest in each other's economies, and build a more resilient regional trading bloc, Zimbabwe and Zambia are positioning themselves as leaders in the drive towards greater economic integration within Southern Africa and beyond.
As the African continent reassesses its place in a rapidly changing world, the continued collaboration between Zimbabwe and Zambia sets a powerful example for the rest of the region on the importance of unity and shared prosperity.
Source - Online
