Chilengi entices Eximbank

Business

By NAMUTENGA SAKAPILA
Zambia’s Ambassador to Turkey, Joseph Chilengi has implored the Turkish Eximbank to explore possibilities of opening up a commercial bank in Zambia.

Dr Chilengi said the Turkish government should to support Zambia’s industrialization agenda through provision of finance to Turkish companies that have expressed interest to invest in Zambia.

He said it was important for Turkish companies to take advantage of the investment opportunities Zambian business market provides and facilities offered by the Turkish Eximbank to enhance trade and investment between the two countries.

Dr Chilengi was speaking during a bilateral meeting with Turkish Exim bank Regional Manager, Funda Baydar in Ankara.

“We need machinery and equipment for manufacturing, agriculture and agro-processing industries which would help our country achieve goals to develop a diversified and competitive export-led value adding manufacturing sector as well as enhancing productivity in the agriculture and agro-processing sectors,” he said.

He said Turkish Eximbank would help to boost the trade volume between Zambia and Turkey, which stands at US$22 million, through its mandate to finance Turkish companies interested in exporting their products such as machines and equipment.

Ms Baydar said Turkish Eximbank was willing to provide the necessary support to Turkish companies in agro-processing including those interested in participating in infrastructure development projects in Zambia.

She encouraged the Zambian Government to consider engaging Turkish Eximbank to explore the possibility of financing infrastructure development projects.

This was contained in a press statement made available to The Independent Observer by First Secretary for Press at the Zambian Embassy in Turkey Jerry Munthali.

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