Business
Zambia, UAE sign $2.14 billion agreement to boost trade, investment
Zambia and the United Arab Emirates (UAE) have signed a Comprehensive Partnership Agreement worth US$2.14 billion to be implemented across various sectors of the economy. President Hakainde Hichilema, who attended the Zambia-UAE Business Forum in Abu Dhabi on Tuesday where the agreements were signed, expressed…
Picture: Zambia Monitor
Zambia and the United Arab Emirates (UAE) have signed a Comprehensive Partnership Agreement worth US$2.14 billion to be implemented across various sectors of the economy.
President Hakainde Hichilema, who attended the Zambia-UAE Business Forum in Abu Dhabi on Tuesday where the agreements were signed, expressed optimism that the deal would contribute to increased trade between the two countries.
He said Zambia was committed to strengthening economic ties with the UAE as the country seeks to attract investment, expand trade and accelerate economic growth.
“Zambia has much to learn from the UAE’s experience in using its natural resources to develop the economy and improve the living standards of its people,” Hichilema stated.
He noted that Zambia’s rich natural-resource base provided an opportunity to pursue similar economic transformation through increased investment, trade and domestic reforms.
Lakatips
Advertise on Lakatips
Reach readers following the national conversation
Display, sponsored placements and briefing slots — across politics, business and sport.
Hichilema said the government’s Grow Zambia Agenda sought to double the size of the Zambian economy, with expected benefits including increased revenue for public services, more employment opportunities and expanded business opportunities for Zambians.
“The government will continue to prioritise increased trade and domestic reforms aimed at creating an environment capable of attracting the investment required to grow the Zambian economy,” he said.
He described the visit to Abu Dhabi as significant, noting that, as in 2021, his first trip abroad after the elections had brought him to the UAE.
Hichilema further expressed gratitude to UAE President, Sheikh Mohamed bin Zayed Al Nahyan, for the invitation.
He reaffirmed Zambia’s readiness to engage with investors, stating that the country remained “open and ready for business and investment.”
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
Source: Zambia Monitor — Read more
More to read
All Business →
Y Celeb ft. Vocalist Zm – Dobo Video
Copperbelt rap heavyweight Y Celeb has released a new music video for his latest song, “Dobo,” a record that challenges the stereotypes society often attaches to people who smoke marijuana. The song questions the assumption that marijuana users cannot achieve success, highlighting how quick judgements…
Catholic priest Tyola, UPND’s Bwalya, reportedly reconcile
Catholic priest Father (Fr) Henry Tyola and United Party for National Development (UPND) official Frank Bwalya have reportedly reconciled following a dispute over alleged defamation and cyber-related abuse. Last week, Zambia Monitor reported that Bwalya, had threatened legal action against Fr Tyola over the alleged…
Zambia claims unemployment rate falls to 9.9%, as Western Province worst hit at 20.6%
Zambia’s unemployment rate fell to 9.9 percent in 2025 from 12.9 percent in 2024, while the employment-to-population ratio increased to 37.1 percent, according to the latest labour market survey. The findings were released during the official dissemination of the 2025 Labour Force Survey and Employment…