AfricaBreaking NewsBusiness

Historic Milestone Achieved at Lobito Corridor Ministerial Meeting

The Lobito Corridor Transit Transport Facilitation Agency reached a significant milestone during its first Committee of Ministers meeting held in Lobito, Angola on Saturday, December 16th, 2023. The meeting was presided over by Hon. Frank M. Tayali, the Minister of Transport and Logistics for the Republic of Zambia.

Hon. Tayali, in his opening address, expressed gratitude to the attendees, including Hon. Ricardo Viegas de Abreu, Minister of Transport of the Republic of Angola, and Mr. Rodger TeBiasu, representative of the Hon. Minister of Transport and Channels of Communication of the Democratic Republic of Congo. 

The meeting brought together high-ranking officials, ambassadors, business leaders, and stakeholders from the Southern African Development Community (SADC) region.

The Minister conveyed warm greetings from the President of the Republic of Zambia, Mr. Hakainde Hichilema, and highlighted the significance of Lobito as a symbol of renewed trilateral relationships among member states. 

He emphasized Lobito’s role in fostering economic strength and facilitating increased trade volumes between Zambia, Angola, and the Democratic Republic of Congo.

Hon. Tayali commended the Government of the Republic of Angola for hosting the meeting and extended gratitude to the Governor and local government leadership of the Province of Benguela for their warm hospitality.

During the meeting, Hon. Tayali outlined key achievements since the signing of the Lobito Corridor Agreement in January. 

These achievements included the ratification of the Transit Transport Facilitation Agreement by the Zambian Parliament, collaboration with international partners for the development of the Lobito Corridor, and significant progress in infrastructure projects along the corridor.

The Minister announced the completion of feasibility studies, the signing of memoranda of understanding, and successful public-private partnerships that contribute to the realization of the Lobito Corridor’s potential. 

He also emphasized the importance of establishing a sustainable funding mechanism for the corridor’s governance structures.

In conclusion, Hon. Tayali reiterated Zambia’s commitment to the Lobito Corridor’s full establishment and expressed optimism for the region’s economic growth and development.

Leave a Reply

Your email address will not be published. Required fields are marked *