Zambia and India to improve trade relations

26 Aug 2019

Zambia and India are working to heighten their bilateral trade by increasing their traded items. 

The countries’ bilateral trade was recorded at USD833 million in 2018/2019, much of which was made up of exports from Zambia. 

Both Zambia and India have highlighted the need to grow trade and investment cooperation by encouraging public and private companies to explore trade and investment opportunities. 

President Lungu and President of India Shri Ram Nath Kovind both spoke highly of the mutual relations shared between both countries, and the inflow of Indian private investment into Zambia; namely in mining, infrastructure, manufacturing and pharmaceuticals, and agriculture.

President Lungu also spoke with Indian Prime Minister Narendra Modi to further emphasise on their mutual goals, specifically the advancing of economic, commercial, health, infrastructure, capacity building and cultural cooperation. 

A total of six MoUs were signed; on topics being Geology and Mineral Resources, Health and Medicine, Art & Culture, Diplomacy and International Studies, Elections and Defense Cooperation, and one for Zambia’s involvement in tele-education and telemedicine through the e-VBAB Network project. 

Meanwhile, the Government of India has announced its aim to help Small and Medium enterprises in Zambia, as well as plans to introduce grants for 100 Solar Irrigation pumps, aimed at improving agriculture In Zambia, 1,000 metric tons of rice and 100 metric tons of milk powder for humanitarian purposes, and 5 fire tenders to be distributed at the Zambia Air force bases.
Cultural relations are also a priority for both governments. Additionally, they agreed to work on global concerns related to climate change, peace, security, and sustainable development.