Zambia And Latvia Agree To Enhanced Economic Cooperation

The Zambian and Latvian chambers of commerce and industry have signed a memorandum of understanding committing to enhancing economic cooperation between the two countries. 

Both nations have agreed to develop a Joint Action Plan to realise the objectives of this agreement. The plan will include steps to establish a joint business committee; organising trade and business delegations; participation at international fairs and exhibitions; and general cooperation in the areas of trade, technology and industry. 

The memorandum was signed electronically, with both parties agreeing to exchange physical documents when international travel is once again safe. 

The agreement is the result of longstanding talks between the Embassy of Zambia in Sweden (which has accreditation in Latvia) and the Latvian Chamber of Commerce and Industry (LCCI). 

Zambia’s ambassador, Rose Salukatlua, met with LCCI President Aigars Rosotvskis in Riga last November, with subsequent discussions taken over by the Zambian Chamber of Commerce. 

LCCI Deputy Director Nauris Lazdans welcomed the agreement, saying that the strong institutional, trade and business ties between the two chambers of commerce would be to the benefit of businesses in both Latvia and Zambia.

Mr Lazdans explained that business-to-business meetings would be co-organised by the LCCI with the ‘SME Aisle’ project, which aims to support business between Baltic SME’s (Latvia, Finland, Estonia and Sweden) and stakeholders in the SADC. 

The LCCI is also due to take part in a European-Union funded export project to the SADC region, which Zambia could also be participating in from this year. 

The project, which is being undertaken in collaboration with Finnish and Estonian partners, will include at least two business trips to the SADC region each year, among other activities.