Economics

The Economic Section contributes to the strengthening and enhancement of the Zambia’s economic relations with the United kingdom. Its primary objective is to promote Zambia’s economic interests in the United Kingdom, Scotland, Ireland and the Holy See. Zambia and the UK also cooperate within multilateral organisations that are both party to such as the Commonwealth, United Nations, International Sugar Organisations, International Coffee Organisations and the Centre for Agricultural Biosciences International.

The major responsibility, is to manage, monitor, and report on the full range of economic issues between Zambia and the United Kingdom, Scotland, Ireland and the Holy See as well as the Commonwealth, United Nations, International Sugar Organisations, International Coffee Organisations and the Centre for Agricultural Biosciences International. The Section also provides information on doing business with the Commonwealth and multilateral organisations.

 ZAMBIA UK ECONOMIC RELATIONS

Zambia and the United Kingdom enjoy warm historical relations. The British Government channels its support to Zambia through the Department for International Development (DFID) Operational Plan for the period 2011-2016. This plan covers economic development, health, poverty and hunger, water and sanitation, governance, education and gender.

Cooperation from the UK is also in the form of the contribution of the many NGOs/Charities based in the UK that are doing developmental work in Zambia mainly in the areas of health, education, construction, sport, water and sanitation as well as community, youth and women empowerment, and child development.

In 2015, Zambia and the UK signed an Avoidance of Double Taxation Agreement. A British Chamber of Commerce has also been established in Zambia. The Zambia UK Trade and Investment Forum was held on 4th November, 2015, to promote trade and investment between the two countries. Pledged investment from the UK in Zambia is mainly in the areas of mining, tourism, agriculture, manufacturing, construction, real estate, transport, health, ICT, consulting, project management and other services. Some of Zambia’s exports to the UK include, copper, precious stones, flowers, honey, vegetables, sugar, tobacco, dairy products and art. Zambia imports mainly machinery, vehicles, pharmaceuticals, electrical products, chemical products, fertilizer, and plastics.

ZAMBIA IRELAND BILATERAL ECONOMIC COOPERATION

Zambia and Ireland share warm and cordial relations. Development Cooperation is mainly channeled to Zambia through Irish Aid programmes. Currently support is given to the country under Irish Aids Country Strategy Paper for Zambia for the period 2013 to 2017 and covers health; education; governance and security; wealth creation; poverty, hunger and vulnerability; as well as water and sanitation. In addition, there are a number of NGOs doing socio-economic development work in various areas including education, health, poverty reduction, empowerment, agriculture and housing.

Irish investment interest in Zambia is mainly in construction, agro processing, energy, manufacturing, service sector, and tourism. Zambia and Ireland are trading partners with the trade balance in favour of Ireland. Zambia main export products to Ireland include copper, live trees, plants, bulbs, cut flowers, sugar, tobacco, precious stones and vegetables. Whilst imports include machinery, chemical products, perfumes, toiletries, articles of iron and steel, tools implements, dairy products, vehicles, electrical products, pharmaceuticals and plastics. Zambia and Ireland have an Avoidance of Double Taxation Agreement.

Zambia also cooperates with Ireland under the framework of the Africa-Ireland Economic Forum (AIEF) whose objective is to enhance economic relations between Africa and Ireland.

Recurrently, Director for Africa, Asia and Palestine in the Development Cooperation Directorate of the Ministry of Foreign Affairs and Trade of Ireland Mr. Kevin Dowling said that Irish Aid through its Zambia Country Strategy Paper for the period 2013-2017 will continue to focus on the core areas namely: Quality Education for All; Better Governance and Accountability and Improved livelihoods and better nutrition, as these support areas are consistent with the Zambia’s National Development Plans of delivering quality education for the citizens, improving governance and reducing poverty.

ZAMBIA HOLY SEE DEVELOPMENT COOPERATION

The Holy See cooperations with Zambia mainly in education and health. The Catholic Relief Services has been operating in Zambia since 2000, with programs in 8 Zambian provinces, dealing with health, nutrition, agriculture, microfinance and capacity building. Other contributions of the Catholic Church can be seen in the many catholic schools and hospitals in Zambia as well as through the work of individual churches, Zambia Episcopal Conference, Caritas Zambia, Jesuit Centre for Theological Reflection, National Council of Catholic Women, and the Zambia Catholic University, among others

WHY INVEST IN ZAMBIA

Zambia is a multi-party democracy and provides a market-oriented liberalized economic environment in a strife-free, multicultural society. The Zambian Government welcomes investors across sectors and the laws relating to investment have provided for incentives aimed specifically at increased levels of investment and international trade, as well as increased domestic economic growth.

The country’s central location in the region, as well as a combination of the following key strengths makes it an ideal investment location:

  • Abundance of natural resources and manpower, which are highly under-utilized.
  • Political Stability since attaining independence in 1964.
  • Abolition of Controls on: prices, interest rates, foreign exchange rates, free repatriation of

    debt repayments.

  • 100% repatriation of net profits.
  • Guarantees and Security to investors with legislated rights to full and market value

    compensation.

  • Duty Free Access to Regional, wider African and the USA markets under SADC/FTA,

    COMESA/CU and AGOA (African Growth and Opportunity Act) respectively.

  • Banking, Financial, Legal and Insurance services of international standard as well as a Stock

    Exchange.

  • Double Taxation Agreements with a number of European, North American, African and

    Asian countries.

  • Good place to work and live – sub-tropical climate and vegetation with plenty of water.

    Friendly people, mostly English speaking, with high literacy rate. Educational establishments to University level. Strong religious values. Open-air lifestyle with nature reserves, game parks, rivers, lakes and waterfalls.

  • Thriving Private Sector – Government has successfully privatized most of the previously state owned enterprises, thus encouraging an entrepreneurial culture.

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