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Japan and Zambia Forge Bilateral Investment Agreement to Boost Economic Ties

In a significant development, Mr. Toshihiko Horiuchi, Director General of the African Affairs Department at the Ministry of Foreign Affairs of Japan, announced that a bilateral investment agreement is in the works between Zambia and Japan. The primary objective of this agreement is to enhance economic cooperation and promote investments between the two nations.

Highlighting Zambia’s abundant mineral resources, especially its rich copper deposits, Mr. Horiuchi emphasized the growing international focus on mineral resources in the context of global decarbonization efforts. He acknowledged the pivotal role Zambia can play in addressing the increasing demand for these critical minerals.

Mr. Horiuchi delivered this message at Zambia’s 59th Independence Reception in Tokyo, held under the theme “Accelerating National Development Through Equitable Distribution of Resources.”

He expressed Japan’s commitment to accelerating the negotiation process for the agreement and affirmed Japan’s willingness to collaborate in various sectors of Zambia’s economy.

He extended warm congratulations to the Republic of Zambia on its 59th Independence Day, reminiscing about the unique historical connection between the two countries.

Zambia’s independence, he noted, was achieved just 10 hours before the closing ceremony of the first Olympic Games hosted by Japan on October 24th, 1964. This event marked the beginning of close relations between Japan and Zambia.

Mr. Horiuchi underscored the shared values of peace, democracy, and the commitment to a free and open international order based on the rule of law that bind the two nations.

Speaking at the same event, Zambia’s Ambassador to Japan, Dr. Tobias Mulimbika, reaffirmed Zambia’s commitment to fostering mutually beneficial cooperation between the two countries in various sectors, including mining, agriculture, energy, and healthcare.

The Ambassador encouraged Japanese mining companies to explore investment opportunities in Zambia’s critical mineral resources, essential for the production of electric vehicles and other products, such as cobalt, nickel, copper, lithium, and gold.

Dr. Mulimbika emphasized Zambia’s central location in Southern Africa and the presence of crucial road corridors facilitating the transportation of goods for both exports and imports in the mining industry.

He also highlighted Zambia’s dedication to becoming a prime investment destination for the global energy transition.

Japan Zambia Friendship Association Chairman, Katsumi Yamaguchi, expressed his anticipation to work collaboratively to strengthen the bonds and relations between the two countries. The Association reiterated its commitment to support Zambia in various developmental agendas.

This announcement marks a pivotal moment in the relations between Japan and Zambia, as both nations work together to boost investments, promote economic growth, and support sustainable development, leveraging Zambia’s rich mineral resources and strategic geographic location.

This information is contained in the statement Issued by Faith Nabeene Chilube, First Secretary Press and Public Relations, Embassy of the Republic of Zambia, Tokyo, Japan.

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