Cabinet Approves Proposed 2027 National Budget

Meanwhile, Cabinet has approved the signing of a Comprehensive Economic Partnership Agreement –CEPA- between Zambia and the United Arab Emirates, aimed at expanding trade, attracting investment and creating wider market opportunities for Zambian businesses.

Mr. NKANDU said the agreement is expected to improve access for Zambian goods and services to the UAE market by reducing barriers to international trade and enhancing the competitiveness of local products.

He said the United Arab Emirates is an important international commercial, logistics, investment and export hub, making it a strategic partner for Zambia’s trade and investment ambitions.

The Minister said the agreement is also expected to promote export diversification, encourage technology transfer and support the integration of Zambian businesses into regional and global value chains.

Mr NKANDU said the partnership could open up investment opportunities in key sectors, including agriculture, energy, mining and tourism, in line with Government’s eight-point development targets for the next five years.

The targets include producing 10 million tonnes of maize, generating 10,000 megawatts of electricity, attracting five million international tourists and increasing copper production to three million tonnes.

The other targets are to produce three million tonnes of soybeans, one million tonnes of wheat and one million tonnes of sugar, as well as developing a one-billion-US-dollar beef industry.

He said the benefits of the agreement will, however, depend on Zambia’s ability to increase production capacity, improve local manufacturing and add value to its products before exporting them.

Mr NKANDU said Cabinet has also approved the establishment of implementation, import-surveillance and periodic review mechanisms to ensure the agreement is properly monitored and implemented.

On another development, Cabinet has approved, in principle, the introduction of the Trade Remedies Bill of 2026 in Parliament, aimed at strengthening the protection of local industries against unfair international trade practices.

Mr NKANDU said the proposed legislation will provide a stronger legal and institutional framework to help local industries respond to unfair competition arising from international trade.

He said the Bill seeks to consolidate trade remedy measures under one piece of legislation, while introducing stronger administrative procedures and safeguards for various sectors of the economy.

Mr. NKANDU said the proposed law is intended to help maintain a competitive and sustainable industrial sector as Zambia continues to open up its economy to international trade.

He said Cabinet has also approved amendments to the Control of Goods Act and the Customs and Excise Act to align the existing laws with the proposed legislation.

Mr. NKANDU said once enacted, the Trade Remedies Bill will strengthen Government’s ability to protect domestic industries using appropriate trade measures in line with World Trade Organisation –WTO- rules.