Zambia and Saudi Arabia Strengthen Economic Ties Through Collaborative Committees
Zambia’s Minister of Commerce, Trade, and Industry, Hon. Chipoka Mulenga, MP, met with His Excellency, Dr. Majid bin Abdullah Al-Qasabi, Minister of Commerce of the Kingdom of Saudi Arabia, during the World Investment Conference in Riyadh.
The meeting focused on enhancing economic relations between the two countries by establishing collaborative committees to facilitate trade and investment.
Minister Mulenga expressed appreciation for Saudi Arabia’s support, particularly in the construction of the King Salman bin Abdulaziz Specialist Hospital in Lusaka. He also highlighted Zambia’s attractive investment opportunities, notably in mining and agriculture, which the nation plans to expand significantly.
To further strengthen bilateral ties, Minister Mulenga proposed the creation of a Joint Trade Committee and the Saudi-Zambia Business Council.
“To enhance Saudi-Zambia economic relations, I propose the establishment of the Saudi-Zambia Trade Committee and, to take it further, a Private-to-Private Zambia-Saudi Business Council. These committees will be instrumental in facilitating trade, removing barriers, and fostering investment,” said Minister Mulenga.
Dr. Al-Qasabi welcomed the proposal, praising Zambia’s peaceful environment and expressing interest in exploring its tourism potential. He also encouraged Zambia to actively promote itself as a destination for investment.
Dr. Al-Qasabi emphasized the importance of expediting the formation of the committees and proposed the development of a three-year framework plan for implementation.
In response, Minister Mulenga tasked the Zambia Development Agency (ZDA) with leading a team to develop the framework, ensuring the committees operate efficiently and deliver measurable results.
Both ministers reaffirmed their commitment to strengthening the economic partnership between Zambia and Saudi Arabia, with a shared focus on fostering trade, investment, and economic growth.
