Zambia
Economy overview:
Zambia's economy has experienced
strong growth in recent years, with real GDP growth in 2005-2011 more than
6% per year. Privatization of government-owned copper mines in the
1990s relieved the government from covering mammoth losses generated by
the industry and greatly increased copper mining output and
profitability to spur economic growth. Copper output has increased
steadily since 2004, due to higher copper prices and foreign investment.
In 2005, Zambia qualified for debt relief under the Highly Indebted
Poor Country Initiative, consisting of approximately USD 6 billion in
debt relief. source: CIA Factbook
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Zambia is a member of two of Africa's major regional markets. This dual membership places Zambia in a strategic position to take advantage of a trading incentives with many markets beyond its borders.
Southern African Development Community (SADC) Common Market for Eastern and Southern Africa (COMESA) |
Africa Growth and Opportunity Act (AGOA)
Zambia is eligible for incentives provided under the African Growth and Opportunity Act (AGOA). Former U.S President Bill Clinton signed the AGOA into law on May 2000 as Title 1 of The Trade and Development Act of 2000. The Act provides tangible incentives for African countries to continue their efforts to open up their economies and build free markets. |
