Zambian Economist Urges Focus on Regional Trade Integration for Economic Growth
Zambian economist Mr. Kelvin Chisanga is urging the nation to prioritize regional trade integration as a key driver of economic growth.
Mr. Chisanga highlights Zambia’s strategic position within two powerful trade blocs: The Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA).
“Zambia is situated perfectly to leverage these regional markets,” says Mr. Chisanga. “SADC boasts over 330 million potential consumers and a GDP exceeding $500 billion, while COMESA offers an even larger market of over 480 million.”
He emphasizes the untapped potential within these trade blocs: “SADC and COMESA represent significant strategic hubs for regional trade. Together, they offer a lucrative market with high potential for participation by Zambian businesses.”
Mr. Chisanga calls for the development of “quick models” to strengthen Zambia’s economic fundamentals and facilitate participation in these regional trade mechanisms.
To achieve successful integration within SADC and COMESA, he notes that Zambia should implement strategies that encourage regional trade and investment. This can be achieved by creating easier access for Zambian businesses to the vast consumer bases of these trade blocs, which would in turn attract foreign investment.
Additionally, improvements to Zambia’s trade infrastructure and regulations would streamline cross-border commerce, making it simpler for Zambian businesses to participate. Ultimately, by strategically integrating with its neighbors, Zambia can unlock a surge in economic activity, job creation, and overall national development.
Mr. Chisanga’s comments come as Zambia seeks to revitalize its economy. By strategically integrating with SADC and COMESA, Zambia can unlock a wealth of opportunities and achieve sustainable economic growth.
