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South Africa - Zambia trade imbalance

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Tuesday, 20 October 2015

South Africa - Zambia trade imbalance

Commerce minister Margaret Mwanakatwe says Zambia needs to increase its exports to South Africa in order to reduce the negative trade imbalance between the two countries.   South African High Commissioner to Zambia Sikose Mji has observed that trade and investment are the most dynamic aspects in regional integration efforts. Mwanakatwe lamented the long-standing trade imbalance and called for its reversal, but welcomed the removal of technical barriers between Zambia and South Africa that would see the former’s honey enter that market. You may wish to note that South Africa is Zambia’s largest single trading partner in the SADC region. Total imports and exports to South Africa as a proportion of Zambia’s total trade in 2012 accounted for 34 %  and nine % respectively. This means that Zambia imports more than it exports to South Africa. It is against this background that Zambia needs to pull up its socks to increase its exports to South Africa in order to reduce the negative trade imbalance. My ministry is in the process of splitting the current commerce, trade and industry policy by developing a comprehensive stand-alone industrial policy and a separate trade policy,” said Mwanakatwe.

Source: postzambia.com