Zambia and US Sign MoU To Enhance Commercial Engagement

Zambia and the United States have signed a Memorandum of Understanding (MoU) aimed at enhancing commercial engagement and prioritizing key sectors that are critical to Zambia.

The agreement will enable the private sector to flourish, trade, invest and create jobs. The MoU was signed during a commercial signing ceremony by US Ambassador to Zambia, Michael Gonzales.

During this, he commended the technical experts from the Embassy and the US Department of Commerce for working with colleagues from the Ministry of Commerce, Trade and Industry to devlop an MoU that promotes trade, investment, and job creation for both countries.

The MoU caters to a wide range of investment sectors, including capacity building for Small and Medium Enterprises, technical assistance for bankable projects, and support for the growth of youth and women-led businesses in Zambia. 

It also includes boosting the participation of youth and women to decrease rural poverty through green growth. The Minister of Commerce, Trade, and Industry, Chipoka Mulenga, expressed his delight at the MoU and the commitment of the two nations to shared interests on trade and investment.

The Deputy Assistant Secretary for Middle East and Africa from the US Department of Commerce, Camille Richardson, witnessed the signing of the MoU.

The MoU reflects Zambia's recognition that economic growth comes from investment and entrepreneurial dynamism of the private sector, and the government's agenda to enhance economic development and job creation in the country.