Evariste Ndayishimiye of Burundi and Hakainde Hichilema of Zambia have vowed to remove trade barriers between their nations, a significant step toward fostering economic ties and regional integration. The leaders delegated their various ministries to look into ways to boost commerce after realizing the great potential for growth and progress.
The Common Market for Eastern and Southern Africa (COMESA) and the African Continental Free Trade Area (AfCFTA) were emphasized as important venues to exploit for mutual benefit.
The two countries are committed to fully utilizing these frameworks to unlock new markets and stimulate economic activities. A shared vision for the development of the Lake Tanganyika Corridor, connecting Mpulungu port to the TAZARA railway line, emerged as a cornerstone of their cooperation. This ambitious project is expected to significantly reduce transportation costs and facilitate the seamless movement of goods between the two nations.
To accelerate the realization of this vision, the leaders have endorsed the Public-Private Partnership model for the development of the Nseluka-Mpulungu project.
This approach is anticipated to attract private sector investment and expertise, thereby expediting project implementation. Furthermore, the establishment of a Multilateral Water Transport Agreement and Sister Port Agreements among the Lake Tanganyika states was identified as a crucial step towards regional maritime cooperation.
President Hichilema underscored Burundi’s importance as a key export market for Zambia, with an average export value of over US$25 million in the past five years.
Key export commodities include minerals, agricultural products, and processed foods. President Ndayishimiye echoed this sentiment, emphasizing the potential for substantial growth in trade volume through the development of the Lake Tanganyika Corridor and associated port infrastructure.
The two presidents supervised the signing of six agreements and Memoranda of Understanding across multiple industries in order to strengthen their collaboration.
They reaffirmed their support for each other’s candidacies in regional and international venues, displaying their solidarity on the world scene. President Ndayishimiye invited President Hichilema on an official visit to Burundi, and President Hichilema promised his support for President Ndayishimiye’s impending COMESA leadership.
This historic deal between Zambia and Burundi is a significant step toward regional economic integration and is expected to open up a wide range of alternatives for both countries. By removing trade barriers, constructing necessary infrastructure, and promoting greater cooperation, the two nations can attain shared prosperity and provide a better future for their citizens.
