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Monday, 6 August 2012

New Investment Deal for Zambia and Zimbabwe

By Jessica Achberger

Opening the first Agricultural Show of his Administration, President Sata spoke Saturday of the need to create new economic ties between Zambia and Zimbabwe - alongside controversial leader President Robert Mugabe. The new investment deal between the two countries is to focus on agriculture, tourism and power generation.

The greatest historical trade ties between the two countries have always been within the agriculture sector. For Zambia, exports such as maize and sugar have been rising in tandem with Zimbabwe's imports of soya-beans and fruit. Tourism also represents an important growth sector for both nations, which will jointly host the United Nations World Tourism Organisation (UNWTO) summit in August of 2013. Finally, President Sata emphasised the importance of the Batoka Gorge power project to combat regional power deficits.

Regional cooperation is key for the success of any nation, particularly in Africa. For land-locked Zambia, relations with neighbours have always been paramount. Therefore, although the reign of Mugabe has instigated international sanctions, it does not seem in Zambia's best economic interest to not foster better ties. 

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