Zambia-Italy ties: Trade benefits rise

ZAMBIA’S Ambassador to Italy Joseph Katema (right) with President of Croatia Kolinda Grabar-Kitarovići.

FOR over a decade now, trade between Zambia and Italy has been varying, but tilted towards the European country.
And in the last three years, Zambia’s exports to Italy have been on the upswing, rising to US$10.9 million in 2019, from US$7.9 million in 2018, and US$2.4 million in 2017.
Zambia’s Ambassador to Italy Joseph Katema said there was a constant surge in Zambian imports from Italy in the period under review of US$14.5 million in 2017; US$19.4 million in 2018 and US$58.2 million in 2019.
“This trend depicts a positive trade balance in favour of Italy of US$12.1 million in 2017; US$11.5 million in 2018 and US$47.3 million in 2019.
Zambia’s major exports to Italy are iron and steel, particles of stone and cement, machinery and   works of art, among others,” Dr Katema said.
He said Zambia’s major imports from Italy are pharmaceutical products and engineering products, including electrical machinery and equipment, optical and cinematographic equipment, motor vehicles, vehicles, and aircraft parts.
The ambassador urged Zambian exporters to take advantage of preferential duty treatment of Zambian products to Italy under the EU-ACP Cotonou Agreement and the EBA, that allows Zambian products, other than arms, to enter the EU market duty and quota-free.
He said there is need to vigorously promote Zambia’s export diversification drive which, among other things, will assist to accelerate bilateral trade between Zambia and Italy.
With investment opportunities, Zambia acknowledges that foreign direct investment (FDI) is key to economic prosperity and Italian investment into Zambia has been growing over the years.
“FDI inflows from Italy into Zambia from 2017 to 2019 amounts to US$29,812,193 in the major sectors such as agriculture, manufacturing, mining, and CLICK TO READ MORE

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