FOLLOWING Angola’s successful completion of the domestication process of the Bilateral Trade Agreement between it and Zambia, the two countries are now ready to commence trading on new preferential terms.
Initially, the Bilateral Trade Agreement of the two countries was signed in 2016 and then followed by the signing of an Addendum to it in April, 2022 which brought about consensus on Article VI which deals with market liberalisation.
This however unlocked trade opportunities for over 150 agreed list of products to be imported at a preferential rate in the two countries.
The news on the completion of the domestication process by Angola came to light when Ministry of Trade and Commerce, Permanent Secretary, Lillian Bwalya paid a courtesy call on Hon. Augusta de Carvalho Gando Frederico Forte, Secretary of State for Commerce of Angola during the on going Southern Africa Development Community (SADC) Council of Ministers Meeting in Luanda Angola.
Hon Forte said that after the signing of the BTA, Angola could, however, not immediately proceed to implement the Agreement, as there was need to domesticate it through an enabling legislation.
The development means that Zambia and Angola can now exercise possible trade opportunities that the country can engage in.
And in welcoming the progress, Bwalya said that time was opportune for the two parties to start intensifying efforts aimed at creating mutually beneficial commercial and investment partnerships and encouraged the business community to begin focusing their efforts towards exploiting the two markets.
With Angola being among Zambia’s closest neighbors with 25 MoUs signed between the two countries across many sectors, Bwalya emphasized the importance of expediting the implementation of the BTA, which will start with exports of selected list products out of the agreed common list of products.
“I am happy to note that a team of experts from both countries will soon be meeting to finalise and define our inaugural list of selected products to benefit from the new trading regime with Angola,” said Bwalya.
By Buumba Mwitumwa
Kalemba March 12, 2023
