By ZAMBIA NEWS FEATURES CORRESPONDENT
ZAMBIA’S Commerce, Trade and Industry Minister Felix Mutati in Egypt with President Rupiah Banda who is on a state visit in that country, said government was on a mission to revamp trade between the two countries with Zambia recording a trade surplus of US$320 million driven by copper exports.
Mutati, said the delegation comprising seven cabinet ministers and business people to Egypt was exploring areas of co-operation and investment in the agriculture, construction sectors and adding value to the energy sector.
The minister said the investment value of Egyptian companies in Zambia was at US$120 million in the manufacturing industry which was not enough looking at the size of Egypt with a population of over 80 million.
He said the Zambian government through the Egypt –Zambia business forum, which is running parallel to the state visit, wants to persuade Egyptian business people to invest in Zambia and disclosed that a direct flight from Cairo to Lusaka would be launched in mid-January which would help boost trade between the two countries.
Mutati also said the Zambian delegation has learnt a number of lessons on how Egypt has
utilised and developed the tourism sector which this year attracted 40 million tourists.
President Banda who this morning held private talks with his Egyptian counterpart, Hosni Mubarak, was expect to witness the signing of two contracts between Egypt Electrometer Limited and the Zambia Electricity Company (ZESCO) at the business forum.
(See earlier story here)