By Staff Writer
Former Zambian President Rupiah Banda says the on-going trade wars between the Western countries and China are meant to impose barriers on trade.
Mr Banda said this has a major implications on Africa’s economic growth.
Speaking during a special high level stakeholders appreciation and engagement dinner on the occasion of the 135th Trade and Development Bank Board of Directors meeting in Addis Ababa, Ethiopia, Held under the theme’’ Integrating and advancing the region’s economies.’’
Mr Banda said the global economy is likely to experience a period of sluggish trade, with risks of further slowing down as a result of the trade wars.
He said faster integration of African economies focused on inter-African Trade, removing barriers to mobility of persons and capital investing in infrastructure was one sure way of guaranteeing the continents economic growth.
The Former President urged African countries to come up with export processing Zones like the Lusaka Multi Facility Economic Zone which was focused on producing FREE energy while at the same time promoting tourism through a National game reserve linked to the facility.
On the Trade and Development Bank, Mr Banda said the bank was actively engaged in the African Trade space with the total asset base amounting to US$ 5.4 million as of 30th December, 2017.
Mr Banda commended the government of the Federal Democratic Republic of Ethiopia for the young and dynamic leadership that has embraced gender parity.
This was contained in a statement Issued First Secretary for Press and Tourism at the Zambian Embassy in Addis Ababa Ethiopia Inutu Mwanza.