External Affairs Main Cuff

Zambia-Turkey Should Continue To Create An Investment Environment

The business volume between Zambia and Turkey is around 18.5 million dollars as of 2018. But this number does not reflect the business potential of these two countries whose population is 99 million in total. Therefore, in order to increase the commercial relations between these two friend countries, joint business forums should be organized in Zambia and Turkey. At the same time, both Zambian and Turkish governments should continue to create trade and investment program for the private sector of the two countries. Zambia offers serious investment opportunities especially in energy, agriculture, mining, tourism, construction, and manufacture. By investing in Zambia, Turkish companies will be able to enter Common Market for Eastern and Southern Africa of which the population is over 600 million and Southern African Development Community Free Trade Area. Republic of Zambia Embassy in Ankara is in contact with Turkish Eximbank for the facilitation opportunities for trade and investment between Zambia and Turkey. In this matter, it is also discussed with Ziraat Bankası to open a branch in Zambia. Along with these, soon there will be meetings between the countries on Avoidance of Double Taxation Treaty. After this agreement, Turkish companies will not have to pay taxes again when they export the products that they have produced in Turkey if they have paid their taxes in here.

Ambassador of the Republic of Zambia to Turkey Joseph Chilengi

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