State Visit Sees Start of New Journey for Zambia and Brazil

LUSAKA, Zambia, November 19, 2010 /PRNewswire/ -- His Excellency Mr. Rupiah Banda, President of the Republic of Zambia, has departed Brazil following a successful three-day State visit.

His trip, arranged to enhance bilateral and trade relations between Zambia and Brazil, has seen President Banda take positive strides to secure investor interest in Zambia, following discussions with Brazilian investors in transport, bio-fuels and mining.

President Banda was invited by His Excellency Mr. Luiz Inacio Lula da Silva, out-going President of the Federative Republic of Brazil, to speak at the official opening of the Zambia-Brazil Business Forum in Sao Paulo on Wednesday.

There, he addressed the Brazilian President, government officials, and senior business and industry representatives, calling for the two countries to strengthen co-operation and share ideas to drive economic growth.

President Banda said of the new Business Forum: "It is my hope that more and more Brazilian investors will invest in Zambia and more importantly, partner with Zambian businesses in establishing joint venture companies. Zambia is a highly attractive investment destination."

Top Brazilian corporation Vale Mining has already pledged US$350 million investment in Zambia to develop the Konkola North Copper Mine. This will see the creation of 1,000 jobs in Zambia - highlighting the business opportunities presented by the strong relationship between the two countries.

The eighth annual World Bank Group Report, 'Doing Business 2011: Making A Difference for Entrepreneurs' recently named Zambia as one of the world's top ten reformers for increasing the ease of doing business for local and foreign investors

President Banda concluded his State visit with closed-door talks with President Lula, followed by a lunch hosted by the Brazilian President in his honour. At this, President Banda applauded Zambia and Brazil's shared values of democracy, respect for human rights and a desire to secure a better future for their people. He said: "Brazil is where it is today because you and your people have worked with focus and determination. Zambia is eager to draw lessons from your experience."

SOURCE Statehouse, Lusaka, Zambia