ZAMBIA LAUNCHES SAUDI ARABIA BUSINESS COUNCIL TO DEEPEN TRADE TIES

Zambia has formally launched a new bilateral business council with the Kingdom of Saudi Arabia, marking a significant step in efforts to expand private sector trade and investment between the two countries.

Hon. Chipoka Mulenga, MP, Minister of Commerce, Trade and Industry, unveiled the governance structure and membership framework of the Zambia–Saudi Arabia Business Council (ZSABC) following a cooperation agreement between the Zambia Chamber of Commerce and Industry (ZACCI) and the Federation of Saudi Chambers.

The Council has been established as a dedicated platform to drive private sector-led trade, investment, and economic collaboration between Lusaka and Riyadh. Its formation builds on commitments made at the 28th World Investment Conference, held in Riyadh in November 2024, where the two governments agreed to strengthen commercial linkages.

Housed within ZACCI, the new Council will coordinate business-to-business partnerships, investment promotion, trade missions, market access initiatives, and policy advocacy across priority sectors of the Zambian economy.

ZACCI President Mr. Anthony Kabaghe will serve as Chair, supported by an Executive Committee drawn from manufacturing, agriculture, finance, infrastructure, tourism, mining, education, SMEs and trade. The Council will also draw on advisory input from the Embassy of Zambia in Saudi Arabia, the Zambia Development Agency (ZDA), and the Industrial Development Corporation (IDC).

Membership is open to companies and business associations across the Zambian private sector. ZACCI confirmed its continued focus on building strategic international partnerships that attract investment, broaden trade opportunities, and support Zambia's long-term economic growth.