PRESIDENT Edgar Lungu is scheduled to attend this year’s US- Africa business summit to be held in Maputo, Mozambique.
Foreign Affairs Minister Joseph Malanji says President Lungu will have a one day working visit to Maputo on Wednesday to attend the 12th US-Africa business summit.
He said President Lungu will further hold bilateral talks with US government officials on the sidelines of the summit.
Mr. Malanji said the President was expected to return to Zambia on the same day.
He was speaking in Pretoria, South Africa enroute to Maputo, where he is leading a Zambian team comprising of government officials who include Commerce , Trade and Industry Minister Mr Christopher Yaluma.
Mr. Malanji said the US- Africa business forum was an important networking forum which needed to be strengthend through trade and investment policies.
He mentioned that Zambia has good support from the American government owing to the huge trade volumes between the two countries
And Commerce ,Trade and Industry Minister Christopher Yaluma says Zambia would participate in the negotiations for the second phase of the AGOA agreement.
He noted that as the first phase of AGOA agreement was coming to an end, Zambia would be among countries that would negotiate for the second phase under the umbrella of the African Union.
He said that some Zambian companies have continued to export their products to the American market through AGOA.
This is according to a press statement issued by Mrs Naomi Nyawali, First Secretary Press and Public Relations at Zambia High Commission in Pretoria, South Africa.
Zambia has NOT defaulted on any of its foreign debt, Permanent Secretary, Mukuli Chikuba says
MINISTRY of Finance Permanent Secretary, Mr. Mukuli Chikuba has emphasized that Zambia has not defaulted to any of its creditors on its foreign debt.
Speaking in interview Mr. Chikuba said the action taken by government to seek a six months debt repayment suspension was to promote transparency and understanding among EuroBond holders.
“We have paid the debt service repayment due to the EuroBond.” He said.
“Our debt repayment service to the $750million Eurobond was bond two days ago.” He said.
He said Zambia like many other countries, have been impacted economically negatively by the pandemic.
“We have been impacted negatively by the Covid-19 pandemic.” He said.
In April,2020, the World Bank’s Development Committee and the G20 Finance Ministers, endorsed the Debt Service Suspension Initiative (DSSI) in response to a call by the World Bank and the IMF to grant debt-service suspension to the poorest countries to help them manage the severe impact of the COVID-19.
Mr. Chikuba said to this effect, Zambia has applied for the Deby Service Suspension Initiative (DSSI) to the Paris Club to address the challenges that has come with the Covid-19 pandemic.
He said the action done by government was to encourage transparency and has taken the initiative to commercial creditors too.
He said hovernment has reached out to the banks and commercial creditors such as the EuroBond holders, to agree on the debt repayment service schedule and seeka six months suspension.
He said after the Notice was deposited on Tuesday, the process will begin on 29th October 2020 to obtain consesus from the EuroBond holders so as to achieve a collaborative agreement on the debt service schedule.
Zambia-Djibouti deepen bilateral relations
ZAMBIA and Djibouti have pledged to deepen bilateral and multilateral relations and cooperation.
Presenting his Letters of Credence to the President of Djibouti, His Excellency Ismail Omar Guelleh, His Excellency Amb. Emmanuel Mwamba said Zambia recognises that Djibouti holds one of the world’s busiest shipping lanes of the world and plays a key role in promoting trade and commerce.
Mr. Mwamba stated that His Excellency President Edgar Lungu had placed emphasis on economic diplomacy and the diplomatic role of Djibouti was paramount to Zambia and Africa.
And President Ismail Guelleh said he was looking forward to visiting Zambia.
He said he last visited Zambia in 2007 and spent time at the Victotia Falls.
He also said Africa continues to take pride in Zambia’s first President and pioneer of the Organization of the African Unity(OAU) and now African Union(AU), Dr. Kenneth Kaunda.
He wished Dr. Kaunda good health and continued long life.
Earlier Mr. Mwamba held a meeting with Djibouti’s Foreign Affairs Minister, Hon. Mahmoud Ali Youssouf where they discussed aspects of deepening bilateral and multilateral cooperation.
Mr. Youssouf said Djibouti appreciated the role Zambia played in SADC and the African Union.
He said Zambia was a peaceful and model country that was bringing new ideas and fresh dynamics to the development of the continent through COMESA and other multilateral institutions.
He further hailed Zambia’s Tourism sector that many African countries, including Djibouti would pick lessons from.
This is according to a press statement, Mrs. Inutu Mupango Mwanza, First Secretary (Press and Tourism) in Addis Ababa,
Amb. Mwamba presents Letters of Credence to the State of Djibouti
ZAMBIA’S Ambassador to Ethiopia and Permanent Representative, His Excellency Emmanuel Mwamba is in the State of Djibouti to present Letters of Credence for his accreditation on behalf of His Excellency President Dr. Edgar Chagwa Lungu.
Mr. Mwamba started the process by meeting Djibouti’s Foreign Affairs Minister, His Excellency Mahmoud Ali Youssouf.
Mr. Mwamba is expected to meet the President of Djibouti, His Excellency Ismaïl Omar Guelleh.
Mr. Mwamba is accredited to Ethiopia, Somali, Sudan and Djibouti.
He is also the Permanent Representative tothe African Union(AU) and to the United Nations Economic Commission for Africa (ECA)
This is according to press statement issued by Mrs. Inutu Mupango Mwanza,
First Secretary (Press and Tourism).