GOVT CALLS FOR STRENGTHENING OF POLICIES THAT ENCOURAGE REGIONAL TRADE AND ECONOMIC INTEGRATION

 Finance and National Planning Minister Situmbeko Musokotwane has urged African countries to strengthen policies that encourage regional trade and economic integration with the sole aim of creating larger markets and enhance job opportunities across borders.

Speaking during the 2024 Chief Economists of Government Network-CEOG Annual Forum in Lusaka today, Dr. Musokotwane said the objective of job creation will only be attained if countries harmonize regulations and standards to facilitate business operations and investments within regional blocs.

And Dr. Musokotwane has urged African countries to embrace policy options that aim at improving the business environment such as those whose objective is to reduce the cost of doing business, corruption, streamline bureaucracy, enhance the rule of law and attract investments.

He has encouraged African countries to pursue policy options that are promoting industrialization and diversification in manufacturing, agriculture and services sector as these sectors are capable of enhancing economic diversification in the medium to long term and reduce dependency on traditional sectors like mining.

At the same event, World Bank Country Manager Achim Fock says opportunities for inclusive growth with job creation are enormous in Zambia and Africa and that the forum will provide an opportunity to learn from each other how to overcome constraints and reap the benefits from integration.

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