HONE SIAME, Lusaka
PRESIDENT Lungu has urged Zambian companies to add value to all local products to earn the country the much-needed foreign exchange in line with Government’s economic diversification programme.
The President said the local economy can only record significant growth when companies add value to natural resources.
The head of State was speaking on Saturday evening when he toured Zambian stands at the 49th Swaziland International Trade Fair.
This is according to Zambia National Broadcasting Corporation news monitored in Lusaka yesterday.
“The Zambian economy will only grow once there is value addition to all important natural resources. Time has come for Zambia to reduce the export of raw natural resources,” President Lungu said.
He said Government attaches great importance to value addition as it guarantees sustainable economic growth and spurs wealth and job creation.
President Lungu said it will not be in the interest of the country for Zambia to continue importing products that can be produced locally.
He said the onus is on Zambian companies to ensure they produce quality products that can meet aspirations of local people to reduce on the importation of various products.
President Lungu said trade in the Southern Africa Development Community region should now focus on finished products and not raw materials.
Mr Lungu also observed that events like trade fairs remain important platforms for countries to showcase their economic potential.
President Lungu and his host King Mswati III of Swaziland toured various stands at the International Trade Fair in Swaziland.
President Lungu, who was on a three-day official visit to Swaziland, is expected in the country today.