Business News

Zambia looks to Russia for industrial strength – MP

A changing world has given the African nation options to achieve technological sovereignty, says Chanda KatotobweZambia looks to Russia for industrial strength – MP

Zambia looks to Russia for industrial strength – MP

Harvest season at a coffee farm in Zambia ©  Oleksandr Rupeta/NurPhoto via Getty Images

Zambia is looking to Russia for help in achieving sustainable technological sovereignty that is key to economic prosperity, according to a Zambian member of parliament.

Talking to RT at the Russia-Africa Summit in St. Petersburg, Chanda Katotobwe said he believed that Russia could help Zambia to achieve industrialization and economic transformation through the application of science and technology.

“Russia has proved time and again that it has stood by Africa, including during the liberation struggles,” he added, referring to the continent’s colonial past.

At the summit, the Zambian delegation discussed industrial cooperation with representatives of Russia’s Rostov Region, which is home to large factories that produce helicopters, electric locomotives, and combine harvesters. The delegation from the African state said it was interested in manufacturing agricultural machinery on its territory with Russia’s help.

According to Katotobwe, the world has evolved, and new economic unions have emerged, such as BRICS, which unites Brazil, Russia, India, China and South Africa. The African continent would benefit from expanded cooperation with other BRICS members and developing nations, such as China.

Moscow has forgiven $23 billion in African debt – Putin

Moscow has forgiven $23 billion in African debt – Putin

READ MORE: Moscow has forgiven $23 billion in African debt – Putin

“The emergence of BRICS, the largest economic bloc now, gives African countries and Zambia in particular options” in relation to its sustainable development agenda, Katotobwe said.

Africa must rise to the occasion and seize the opportunity in its quest for the development of its various countries, he added.

Zambia is a landlocked country in south-central Africa with a population of just over 20 million. It’s a lower-middle-income nation, according to the World Bank classification. Among the country’s industries are copper mining and processing, emerald mining, construction, chemicals, textiles, fertilizer, and agriculture.

The Zabmian delegation is in St. Petersburg for the two-day Russia-Africa Summit, which is being attended by representatives from 49 nations to discuss economic cooperation with Russia.

For more stories on economy & finance visit RT’s business section

Source

Leave a Reply

Back to top button