Zambia - Zambia is encouraging investors to set up manufacturing plants than those wishing to establish depots to distribute finished products from outside. Commerce, Trade and Industry Minister Felix Mutati said the Government was more interested in value addition to local raw materials to create more jobs and the much-needed wealth. Mr Mutati said this at the Zambia-Egypt Chemical Business Forum and exhibition at the Inter-Continental Hotel in Lusaka. About 30 Egyptian companies have exhibited at the forum also attended by more than 40 Zambian companies seeking linkages with their Egyptian counterparts.

The minister expressed happiness that Egyptian firms that were visiting Zambia were more interested in a partnerships that went beyond making Zambian as a distribution point.

The Egyptians were more interested in making long term investments including setting up plants once they fully explored investment potential.

'We are a country that is open to investment, we want your money, set up plants, make your profits and take it away. We are not embarrassed about that because you are not here for charity.

'But one cardinal thing is that we want factories here in Zambia more than warehouses and it makes us very happy that you are thinking in our lines,' he said.

Mr Mutati said there has been minimal trade between Zambia and Egypt when the two countries were involved in goods that they both needed.

He said the interaction that had started would lead to interdependence between the

two countries.

Quoting Common Market for Eastern and Southern Africa (COMESA) statistics on trade, Mr Mutati said the five per cent trade among COMESA countries, which both Zambia and Egypt belonged to, was regrettable.

He said there was need for a change in the mindset in not just the two countries but the entire COMESA and Africa at large.

He said Africa needed to find its own solution and increase intra-Africa trade that would benefit the continent.

'Everyone knows that it is more difficult to deal with European countries or America than it is to deal with fellow African countries but fellow African countries like Egypt prefer to export to the difficult continents,' he said.

And Egyptian Ambassador to Zambia Salah El-Sadek said the 30 Egyptian firms represented in Zambia had come to look at how best they could invest in the country.

'Egypt is thirsty for expansion and Zambia is hungry for investment and it makes sense that the people of the two nations interact. What can come out of this is a win-win situation.

'Zambia is an excellent investment destination and the whole world wants to come here. Egypt is coming here after very difficult political challenges and that just shows how serious Egypt is about investing in Zambia,' he said.

And Egyptian delegation leader Hani Cassis expressed happiness at the investment climate in Zambia.

Zambia Chamber of Commerce and Industry (ZACCI) president Geoffrey Sakulanda said Zambia and Egypt enjoyed warm political relationship.

Mr Sakulanda expressed excitement at the new trade relationship which would promote economies of the two countries.

Times Of Zambia/13/04/2011