Economy

Govt confident ratification of Lobito Corridor deal will ensure competitive trade for Zambia, DRC, Angola

0

Transport and Logistics Minister, Frank Tayali, has expressed optimism that the ratification of the Lobito Corridor Transit Transport Facilitation Agency (LCTTFA) will ensure an open and competitive trade environment for member countries and beyond their boundaries.

Member countries involved in this corridor are Angola, the Democratic Republic of Congo and Zambia.

The three countries met in Lobito in January 2023 and signed the agreement that facilitated the establishment of the Corridor for the purpose of promoting efficient transport and logistics system of goods and services.

Tayali in a statement on Thursday said the ratification of the Lobito Corridor Agreement was a clear sign, changing the narrative of a land-locked country to that of a land-linked country.

He stated that the Corridor would also promote the development of transport infrastructure and economic activities within the area.

“The area has great economic potential owing to the existence of the rich agricultural, fish, minerals, tourism and energy resources,” he said.

Tayali said what government had done was in line with its aspiration of turning the country into an export-led growth and middle-income country by 2030.

“As Zambia has had no proper connectivity with Angola, the ratification of the Lobito Corridor Agreement will entail the expansion and mordenisation of the Port of Lobito, construction of a new railway line from Luacano in Angola to Chingola in Zambia, and the main roads within the Corridor,” he said.

The telecommunication system would have to be developed and modernised in order to enhance communication and connectivity.

And for the road network, the works would involve construction of the bridges, drainage systems and pavements.

The road projects in the Corridor will be: the Joao Chaves-Jimbe (260km), Kolwezi – Kipushi (180km), Solwezi – Kipushi (140km) and Manyinga – Jimbe (374km). Under the railway sector are: Luacano – Jimbe (259km) and Jimbe – Chingola (574km).

Various One Stop Border Posts will also be developed at Jimbe Border (between Angola-Zambia), Kipushi Border (between the Democratic Republic of Congo and Zambia) and Kambimba Border (between the Democratic Republic of Congo and Zambia).

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.

Citizens First Party pushes for fuel subsidy to mitigate impact of high cost of fuel (Video)

Previous article

‘Not true,’ Govt denies allegations 405 senior public officers placed on holding positions

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Economy