The Zambia Chamber of Commerce and Industry (ZACCI) has observed the need for African countries to increase trade within the region before trading with other continents.
And the Chamber observes that the grant provided by the African Development Bank of U$8.1 million to finance the Lobito Corridor Trade Facilitation Project will increase trade between Zambia, Angola and Democratic Republic of Congo.
The three components of the Lobito Corridor Trade Facilitation Project is targeted at basic Infrastructure development in form of a Pilot Border Market at Jimbe and two Trade Information Desks at Kipushi and Jimbe respectively.
ZACCI President Michael Nyirenda tells Money FM News that in order for Africa to conduct trade easily, there is need to improve infrastructure such as roads and railway lines.
Mr. Nyirenda says with such investment coming from Africa Development Bank, it is likely to impact positively in terms of trade between the three countries.
“Last week, we met in Nairobi, Kenya where we were discussing on how best we can improve trade within ourselves as Africans. Before we trade with other continents, we need to increase trade within the African region,” he said.
He has further observed the need for Zambia to improve its railway lines and use it for exports of bulk cargo saying transporting such goods via roads is damaging the road infrastructure.