Lusaka, 14 November 2024—The Zambia Development Agency (ZDA) and the Eswatini Investment Promotion Authority (EIPA) have formalized their commitment to fostering stronger economic ties by signing a Memorandum of Understanding (MoU).
This agreement aims to enhance investment and trade relations between the two nations while strengthening institutional cooperation and capacity building.
The MoU outlines comprehensive areas of collaboration, including trade promotion, investment facilitation, and the exchange of critical information on trade policies, regulations, incentives, and opportunities.
It also encourages partnerships between Small and Medium Enterprises (SMEs) from both countries and supports initiatives such as technical training, business missions, and participation in trade exhibitions and conferences.
During the signing ceremony, ZDA Board Chairperson Biemba Maliti emphasized the need for a clear implementation strategy for the MoU, highlighting the potential for both countries to benefit from enhanced bilateral trade and investment agreements.
Maliti stressed the importance of creating opportunities for private sector engagement, which could be facilitated through investment summits, trade missions, and streamlined guidelines for cross-border investments.
ZDA Director General Albert Halwampa described the MoU as a demonstration of both nations’ commitment to fostering trade and investment.
He outlined key areas of collaboration, including agriculture and agro-processing, tourism, infrastructure development, energy, education, and human capital development.
Halwampa expressed confidence that the partnership would deliver tangible benefits to both Zambia and Eswatini.
EIPA Board Chairperson Theo Hlophe hailed the MoU as a significant achievement, urging the focus of interactions to extend beyond institutional boundaries to include broader national cooperation.
He emphasized the geographic advantage of both nations as land-linked countries and the opportunities this presents for enhanced trade and investment.
EIPA Chief Executive Officer Sibani Mngomezulu affirmed the importance of collaboration between the two institutions, describing the MoU as a foundation for seamless operations.
Mngomezulu highlighted the shared mandate of ZDA and EIPA to promote investment and trade and expressed optimism about the mutual benefits this partnership would bring.
The signing of the MoU marks a step in strengthening the economic partnership between Zambia and Eswatini, with a focus on fostering sustainable development and economic growth in the region. Both nations are committed to ensuring that this agreement translates into meaningful outcomes for their economies and citizens.
