ZAMBIA CALLS FOR MUTUALLY BENEFICIAL PARTNERSHIPS BETWEEN KOREA AND AFRICA

Seoul, 4th June, 2024 – Hon. Mulambo Haimbe, SC. M.P, Acting Minister of Foreign Affairs and International Cooperation represented Mr. Hakainde Hichilema, President of the Republic of Zambia at the 2024 Korea-Africa Summit in Seoul, Republic of Korea.

In a statement delivered on behalf of the President, Hon. Haimbe congratulated Korea for convening the inaugural Summit which serves as a testament to the enduring bonds of friendship and cooperation between Africa and Korea.

The Minister noted that Zambia recognizes the invaluable contributions of Korea to Africa’s socio-economic advancement, particularly through initiatives aimed at capacity building, infrastructure development, agriculture, technology transfer, and peace and security.

The Minister noted the expanded Official Development Assistance of up to US$10 billion aimed at catalyzing projects for cooperation with Africa and the allocation to export financing of approximately US$14 billion meant to encourage Korean companies to increase trade and investments in Africa.

Hon. Haimbe said Zambia and Africa at large looked forward to mutually beneficial partnerships, encompassing a significant proportion of value addition to raw materials like critical minerals in the host countries.

This includes partnerships in export-led strategies that have aided in the advancement of Korea’s own economy.

The Minister highlighted the numerous global challenges that require consented efforts such as climate change which had continued to pose a major and grave threat to Africa’s sustainable development, including Zambia.

Hon. Haimbe noted Zambia’s readiness for collaborations that specifically address food and energy shortages by funding irrigation projects, building canals and dams, setting up water harvesting systems, and expanding the use of energy sources, including renewables.

The Minister highlighted the energy crisis in Southern Africa which could be addressed through sustainable infrastructure development in the energy sector such as the construction of a transmission line to interconnect Zambia’s upstream neighbours like Tanzania that has excess power generation, to the Southern African Power Pool.

Additionally, Hon. Haimbe noted that “Instability Anywhere is Instability Everywhere”, and further reiterated Zambia’s commitment to promoting solidarity, peace, and security, while actively advocating for enhanced collaboration at multilateral fora.

The Korea-Africa Summit is taking place from 4th to 5th June, 2024 under the theme: “The Future We Make Together: Shared Growth, Sustainability and Solidarity.” It was preceded by the Meeting of Ministers of Foreign Affairs on Sunday 2nd June, 2024.

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