The Zambia Chamber of Commerce and Industry (ZACCI) and the Latvian Chamber of Commerce and Industry (LCCI) have signed a memorandum of understanding (MoU) to enhance economic cooperation between Zambia and Latvia.
ZACCI and LCCI have also agreed to develop a Joint Action Plan through which the objectives of the MoU will be actualised.
The MoU is a culmination of efforts initiated by the Embassy of Zambia in Sweden, which also has accreditation to Latvia.
The Embassy initiated contact with the LCCI when Zambia’s ambassador accredited to Latvia Rose Salukatula, met President of the LCCI, Aigars Rostovskis, in Riga, Latvia in November, last year.
Ms Salukatula said that the development was gratifying the engagement with LCCI had revealed that the Latvian business community was eager to forge links with other partners especially from emerging economies such as Zambia’s.
She said the arrangement in place will help in the promotion of exchanges and cooperation in the areas of investment, trade and technology transfer.
Ms Salukatula pointed out that the LCCI had informed ZACCI that they were currently implementing a European Union-funded export project to the SADC region.
The ambassador said LCCI had also indicated that they were eager to motivate companies in Latvia to participate in business trips to Zambia.
LCCI Deputy Director of Export Division, Nauris Lazdans welcomed the development saying that through the signing of the MoU, the parties agreed to develop strong institutional, trade and business relations between the two chambers for the benefit of the business communities of Latvia and Zambia.
Mr. Lazdans pointed out that with the MoU, Latvian companies from the shipbuilding, maritime, logistics, renewable energy, automation, and Information and Communications Technology sectors will have the opportunity to receive European Union funding to meet potential business partners in Zambia.
And ZACCI president, Dr. Chabuka Kawesha has observed that the MoU promises to be an effective framework through which the two chambers could establish a sustainable mechanism of dialogues as well as a platform from which to cooperate in many programmes of trade promotion and commercialisation between the two countries.
This is contained in a statement issued by Zambian Embassy in Sweden Nicky Shabolyo