Angola and Zambia Solidify Trade Partnership with Domesticated Agreement
Angola and Zambia have successfully completed the domestication process of their Bilateral Trade Agreement (BTA) aimed. This was announced during the ongoing Southern Africa Development Community (SADC) Council of Ministers Meeting in Luanda, Angola, marks a pivotal moment in the collaboration between the two nations.
The BTA, initially signed in 2016 and later supplemented with an Addendum in April 2022, paves the way for enhanced market liberalization and trade facilitation between Angola and Zambia. The agreement encompasses over 150 agreed-upon products, which will now benefit from preferential rates, driving increased commerce and investment opportunities.
Following the signing of the BTA, Angola and Zambia embarked on a rigorous process of domesticating the agreement into their respective legal frameworks. Zambia took the lead in this endeavor, and now, with Angola’s completion of the domestication process, both nations are poised to embark on a new era of trade cooperation.
The announcement came to light during a courtesy call between Mrs. Lillian Bwalya, Permanent Secretary of Trade and Commerce for Zambia, and Hon. Augusta de Carvalho Gando Frederico Forte, Secretary of State for Commerce of Angola.
Mrs. Bwalya hailed the successful culmination of the domestication process, highlighting the elimination of legal barriers and the readiness of both countries to commence trading under the new preferential terms.
Expressing optimism about the future of bilateral trade, Mrs. Bwalya underscored the importance of expedited implementation of the BTA. A forthcoming meeting of experts from both nations will finalize and define the inaugural list of selected products set to benefit from the new trading regime, further propelling economic activity between Angola and Zambia.
The relationship between Angola and Zambia is characterized by historical ties, geographical proximity, and shared interests. Over the years, bilateral cooperation has flourished across various sectors, with 25 Memoranda of Understanding (MoUs) in place, spanning areas such as petroleum, infrastructure, transportation, agriculture, technology, health, and defense.
As the two nations forge ahead with their strengthened trade partnership, stakeholders are encouraged to seize the opportunities presented by the expanded market access and deepen commercial and investment ties between Angola and Zambia. With mutual benefits on the horizon, the future holds promise for sustained economic growth and prosperity in the region.
Picture Caption: Left to Right: Hon. Augusta de Carvalho Gando Frederico Forte, Secretary of State for Commerce of Angola and Mrs. Lillian Bwalya, Permanent Secretary – Trade and Commerce, Zambia
