Southern Africa: Trade Growth, Diversification Go Together - Swazi Premier
The Times of Zambia (Ndola), 2 August 2008
Swaziland Prime Minister, Absalom Dlamini, has said countries in the region cannot realise growth without diversifying their economies.
Mr Dlamini said this when he opened this year's Agricultural and Commercial Show in Lusaka whose theme is 'growth and diversity.'
Mr Dlamini who was representing King Mswati said trade, growth and diversification were intertwined hence the need for the countries in the region to work towards diversifying their economies.
"Trade promotes diversification, while diversification is a catalyst for trade. When these two work together smoothly, growth becomes an inevitable outcome," he said.
He said it was imperative that as the global trade evolved, all countries should be on the alert so that they became part of the global movement.
Mr Dlamini said this year's theme had come at the time when the world was engaged in numerous economic activities that included the non-ending trade negotiations.
He said through these negotiations, all countries in the world were working tirelessly to ensure that their economies achieved diversified growth.
Countries that were strong in the production of agricultural goods wanted to diversify into production of industrial goods and those in trading wanted to diversify into trade and services.
Mr Dlamini said this year's show was very strategic as both the public and private sectors were showcasing the best ever.
Mr Dlamini said this year's show was a landmark in the history of trade, particularly growth and diversity in Southern Africa and beyond.
He said this year, the region was progressing towards deeper market integration.
He said at regional level, the Common Market for Eastern and Southern Africa (Comesa) was envisaged to become a customs union while the Southern African Development Community (SADC) would this month launch a Free Trade Area.
Mr Dlamini said at multilateral level, the region was hopeful that the Doha negotiations would be concluded amicably.
Mr Dlamini said these and other global activities were opening up for the micro, small, medium as well as large scale enterprises to interact and conduct trade smoothly and more freely with each other.
He said he was pleased to note diverse products that were exhibited at the show which reflected the Government of Zambia had invested heavily in building entrepreneurial skills of her people.
He said the merchandise being showcased showed the high level of expertise of exhibitors.
Mr Dlamini wished President Mwanawasa a quick recovery on behalf of King Mswati.
He said the whole Swazi nation expressed their prayers for the quick recovery of Dr Mwanawasa.
"As a SADC family, we hope that the doctors in France will get divine wisdom from above while attending to the President," he said.
And Zambia Agricultural and Commercial Show society president, Paul Mumbuluma said this year's show was special in that it was concurrently held with the just ended Smart Partnership Dialogue.
Mr Mumbuluma said Zambia's economy was growing in various sectors as evidenced by the growth in the Gross Domestic Product of five per cent.
He commended the Government for working hard in trying to improve the living standards of the people.
He said there was however need to work hard to reduce the poverty levels.
And Zesco yesterday emerged as winner with the best overall exhibition.
The best interpretation of the theme award went to Zambia National Service (ZNS) while Zambia Seed Company won the best agricultural exhibit award.
Best export commercial exhibit award was scooped by Ndola Lime Company with Zambeef getting the best environmental exhibit award.
Kenya got the best international exhibitor award.
And during the Agricultural and Commercial Show Society of Zambia (ACSZ) guest of honour's luncheon hosted by his bank, Stanbic Bank Zambia managing director, Joseph Chikolwa said the theme for this year's show tied up with the bank's focus on providing relevant financial solutions to enhance growth.
Mr Chikolwa said Stanbic Bank Zambia was continually investing in the economic sectors, especially in the agricultural sector, that accounted for 25 per cent of the bank's loan portfolio.
He said while the bank had taken the lead in reducing interest rates to the sector, it was also committed to diversifying investments and introducing new products in other key sectors.
