CAROLINE KALOMBE, Lusaka
ZAMBIA has ratified the World Trade Organisation agreement on trade facilitation, which will assist Government put in place reforms that will reduce the cost of doing business.
The implementation of the agreement is aimed at putting in place interventions in Zambia’s regulatory trade environment by providing support infrastructure and capacity building for stakeholders.
“The ratification of the WTO agreement on trade facilitation by Zambia demonstrates my government’s commitment and resolute aspiration to undertake the necessary reforms that will further reduce the cost of doing business and in particular, trade across borders,” Deputy Minister of Commerce, Trade and Industry Raymond Mutale said.
He said trade facilitation reforms will improve trade logistics and facilitate for ease of doing business by embarking on modernising the manner in which trade is conducted.
Mr Mutale noted that implementation of modernised trade ecosystems will ensure efficiency and effectiveness in the manner in which trade is conducted, thus reducing the cost of doing business and increasing foreign investment.
He added that the high cost of doing business in most developing countries is a deterrent to the achievement of sustainable social and economic development and reduced participation in economic activities.
“You will appreciate that one key benchmark that both local and foreign investors use to gauge a country’s business environment is the ease of doing business…which assesses the business environment,” Mr Mutale said.