The Export Board of Zambia (EBZ) has earmarked 100 million U.S. dollars for the establishment of an export fund in conjunction with Loita Capital Partners of

Mauritius, according to Zambia Daily Mail on Tuesday.

It quoted EBZ as saying that there is need to conclude bilateral trade agreements among regional countries to enable Zambian products to enter those markets at nil or preferential duty rates.

EBZ Executive Director Glyne Michelo said here that the fund will assist companies to meet their financial requirements at the competitive interest rates.

He said the partnership is only waiting for the modalities to be worked out before the fund is availed to the public within the second quarter of this year.

The fund would be applicable to all export-related ventures including manufacturing companies, he said.

Michelo also said that EBZ has completed market research in Angola's provinces bordering Zambia's Northwestern province.

He cited the Democratic Republic of the Congo and Mozambique as other major markets with bilateral trade agreements in the offing that are bound to be concluded to accrue massive benefits.

The director said currently duties in the these countries are prohibitive but once the agreements are concluded it will allow Zambian products to enter the markets at preferential duty rate and enhance price competitiveness in foreign markets.

Source: Xinhua