Trade between Angola and Zambia is currently estimated at US$50M per year, with a slight bias towards the neighboring country, driven by the growth of the agribusiness segment.
According to the authorities of the two countries, the sharing of the land border has had considerable weight in this relationship, as a result of the countless opportunities available on both sides, which must be better used and exploited, to create wealth and jobs.
The information was provided during a Virtual Business Forum on “Joint Trade and Investment Opportunities”, promoted by the Private Investment and Export Promotion Agency (AIPEX), in partnership with the Zambia Development Agency (ZDA).
On the occasion, the organizers of the event, including the Angolan Embassy in Zambia, showcased the business offers available in the respective States to the attending businessmen.
Miguel Raposo Alves, president of Hamera Capital Partners, a financial group based in Switzerland, presented businessmen from Angola and Zambia with financing programs for the production and export of products to the international market.
Raposo highlighted the growing interest of the financial world in Africa, associated with the initiatives for the constitution of the African Continental Free Trade Area, with a universe of consumers of about 1.2 billion consumers.
The forum was attended by the ambassadors of the two countries, namely Azevedo Xavier Francisco (Angola) and Lawrence Chalungumana (Zambia), in addition to other senior officials.
Zambia exports seeds and agricultural products to Angola, such as corn, beans, eggs, fertilizers, sugar and honey, while Angola sends fuels and other petroleum products, beverages, various machinery, sea products and small quantities of cereals and honey.
Bilateral cooperation has been constantly expanding within the Southern African Development Community (SADC), mainly focusing on the Political, Defense and Security, Transport, Education, Health, Agriculture and Geology and Mining sectors.