In a bid to foster economic cooperation and capitalize on investment opportunities in the mining sector, the Ministry of Mines and Minerals Development of the Republic of Zambia and the Ministry of Energy and Infrastructure of the United Arab Emirates have signed a Memorandum of Understanding (MoU).
The MoU, signed by representatives of the respective ministries, seeks to bolster the already strong historical relations between Zambia and the UAE. It aims to capitalize on Zambia’s favorable economic climate and promising geopolitical location to attract investments and collaborations in the mining sector.
Under the agreement, both countries commit to working together to identify and harness investment opportunities in Zambia’s mining industry. The exchange of delegations and field visits will play a crucial role in identifying areas of mutual interest that could lead to applications for mining licenses.
The Republic of Zambia, in turn, pledges to streamline licensing procedures for companies from the UAE, creating a conducive environment for investment and facilitating mutually beneficial partnerships between public and private sector entities from both nations.
Cooperation between task forces, technical missions, and experts from both countries will be encouraged to expedite the implementation of projects with confirmed economic and financial viability. This collaborative approach will help overcome challenges and ensure the successful completion of mining-related initiatives.
The MoU reflects the shared commitment of both governments to uphold national, regional, and international compliance mechanisms in the field of mining. By working together, Zambia and the UAE aim to strengthen economic ties, leverage mining opportunities, and drive sustainable development in the mining sector.
The signing of this MoU marks a significant step forward in enhancing bilateral cooperation between Zambia and the UAE, opening doors for mutually beneficial partnerships in the thriving mining industry. As the implementation of the agreement progresses, both nations look forward to reaping the rewards of their strengthened mining cooperation.