New Delhi – The Ministry of Foreign Affairs and International Cooperation of Zambia has called upon the Indian Government to seize the opportunity to utilize Zambia’s high-grade soya beans for its edible oil production. Amb. Isabelle Lemba, the Permanent Secretary for International Relations, made this appeal during the third Foreign Office Consultation (FOC) held in New Delhi.
Highlighting the growing trade imbalance between the two nations, Amb. Lemba emphasized the need for India to leverage the strong bilateral relationship with Zambia to enhance trade, particularly in the agriculture sector. She encouraged India to consider importing agricultural produce, such as high-quality soya beans and avocados, which are readily available in Zambia.
Furthermore, Amb. Lemba stressed the importance of investment in agro-processing within Zambia to add value to a wide range of products, allowing the country to export finished goods. This would contribute to bridging the trade imbalance between the two countries.
“We need to enhance our trade ties. While Zambia has experienced greater trade inflows from India, we also need to increase our exports. One product that India can benefit from is our high-grade soya beans, readily available in Zambia. With our favorable weather conditions, we can produce quality soya beans for your use in edible oil production,” said Amb. Lemba.
In response, Puneet Kundal, India’s Joint Secretary of East and Southern Africa, expressed India’s interest in exploring the prospect of importing soya beans from Zambia. He acknowledged the potential cost advantage of sourcing soya beans from Zambia as an alternative raw material for edible oil production, especially considering India’s current reliance on imports from Brazil and other African countries for raw materials.
The consultations also addressed various other matters, including bilateral relations in trade, agriculture, education, health, mining, small and medium enterprises, tourism, and financial services. Both parties discussed mutual interests such as UN Security Council Reforms, the Common Market for East and Southern Africa (COMESA), the Southern African Development Community (SADC), and the African Continental Free Trade Area (AfCFTA).
Both sides agreed to continue high-level political exchanges, with a particular focus on a potential State Visit to India before the March 2024 General Elections. They also committed to holding regular meetings of the joint institutional mechanism to ensure a vibrant and mutually beneficial partnership. Additionally, they agreed to schedule the next round of consultations in Lusaka next year.
The two nations resolved to convene the Zambia-India Joint Permanent Commission in Lusaka before the end of the year, as it provides a platform for further enhancing cooperation. Pending Memoranda of Understanding (MoUs), especially those related to SMEs development and cooperatives, were highlighted as crucial elements for Zambia to tap into India’s advancements in these sectors, aligning with the New Dawn Government’s economic transformation agenda.
The Ministry of Foreign Affairs and International Cooperation of Zambia looks forward to strengthening the ties between the two nations and fostering a mutually beneficial partnership.
