Zimbabwe President Robert Mugabe with Zambian President Rupia Banda, during a trip by Mugabe to Zambia. The leaders are working to strengthen relations in the southern Africa region.
Originally uploaded by Pan-African News Wire File Photos
Herald Reporter
Zimbabwe and Zambia will start negotiations on a Bilateral Investment Promotion and Protection Agreement before the end of this month as part of efforts to create an enabling business environment between the two countries.
Foreign Affairs Minister Simbarashe Mumbengegwi said this at the closing session of the Zimbabwe-Zambia Joint Commission in Lusaka on Friday.
"Both our economies are now on a growth trajectory, creating immense opportunities for co-operation between our enterprises. As governments we should, therefore, put in place measures to reduce business risk and the cost of doing business. In that context, we have agreed to finalise the Bippa. I am pleased that negotiations on the Bippa will commence before the end of this month, which clearly demonstrates our efforts to create a conducive environment for our business enterprise" he said.
Minister Mumbengegwi said business would be invited to participate in future Joint Commission meetings.
A Memorandum of Understanding for co-operation between small and medium enterprises would also be finalised soon.
"Coupled with the Simplified Trade Regime, another instrument we have put in place to enhance the growth and operations of SMEs, the MoU will enhance trade exchanges between our two countries," Minister Mumbengegwi said.
He said they had identified priority areas for infrastructure development.
"We have therefore advanced our discussions on power generation projects, which will contribute towards the reduction of the power deficit in the region," he said.
There are also plans to dualise the Beitbridge-Harare-Chirundu Road and push forward the Lion’s Den-Kafue railway project. "We have also identified issues that need to be addressed to improve efficiency at Chirundu Border Post and established a joint management committee to look into all outstanding issues at the border post.
"The joint management committee will meet monthly to address these challenges," Minister Mumbengegwi said.
In a communiqué released after the meeting, the two countries agreed to sign an MoU on co-operation on diplomatic issues. They also agreed to come up with a legal framework on health matters and to establish a joint committee to finalise a MoU in this regard.
They noted the importance of coming up with a bilateral trade agreement that takes into account elements of mutual benefit that are outside Comesa and Sadc frameworks.
The next session of the Joint Commission will be held in Harare in 2012.
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