Monday, 3 October 2011


The Zambia Development Agency (ZDA) acting Director – Investment Promotion and Privatization, Henry  Sakala has said the Zambia-Canada Business Forum would strengthen linkages between Zambia and Canada to underpin new trade and investment opportunities between the two countries.
Speaking at the end of the Forum in Ottawa, Sakala said the just ended Business Forum had showcased Zambia as a best investment destination in Southern Africa at the moment.
 He said the Forum, designed to paint a contemporary picture of the investment climate in Zambia, highlighted the country’s on - going efforts to attract Foreign Direct Investment
“The Forum provided a platform for Zambia to profile investment in sectors including Agriculture, Tourism, Mining, Infrastructure development to a Canadian audience of over 100 business leaders and investors in both Toronto and Ottawa,” Sakala said..
Top speakers and participants included Zambia’s High Commission to Canada Dr. Nevers Mumba, Parliamentary Secretary to the Minister of Foreign Affairs at the Canadian House of Commons, Hon. Deepak Obhrai, Barrick Gold Corporation and  Mr.Chairman, Mr. Peter Munk, President of the Canadian Council on Africa (CCA) Mr. Lucien Bradet and Ms Patricia Bentolila of the Development Export of Canada (EDC).
Others were Zambia Development Agency (ZDA) Senior Investment Promotion Officer Mr. Noah Ndumungu, Private Sector Development Specialist Mr. Mwiza Mseteka, Tec-Trade Limited Managing Director Mr. Francis Mutati and Plinth Technical Works Limited Director of Projects Mr. Josef Mbazzi.
Meanwhile, the Zambia High Commission in Canada also explained that some of the expectations in organizing the Forum were to re-establish meaningful socio-economic ties between the Zambian government and Canada.
In 2010, the Zambian High Commission successfully organized the first Canadian Trade mission comprising   businessmen and academicians to Zambia for a 10-day visit.
The goal of the mission was to seek co-operation between Zambia and Canada in areas such as Education, Health, Information Technology, Tourism and Infrastructure.
At the end of the visit, the Canadian team had successfully signed three Memoranda of Understanding in Education with the University of Zambia (UNZA), the Copperbelt University (CBU) and Mulungushi University .
Zambia -  Canada  economic  and trade relations are dynamic and are growing. Canada’s foreign direct investment in Zambia is quite significant, particularly in the mining sector, which accounts for more than 75 per cent of Zambia foreign exchange earnings.
Eight years ago in 2003, Zambia signed the Memorundum of Understanding (MOU) with Canada on the Least Developed Countries Market Access Initiative, thereby granting Zambian exporters duty-free and quota-free access to the Canadian market for almost all products.

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