COMMERCE, Trade and Industry Minister CHRISTOPHER YALUMA says cabinet has approved the National Industrial Policy in order to accelerate economic growth for the country through industrialisation.

PRESS STATEMENT FOR IMMEDIATE RELEASE.

Pretoria -Tuesday, 27th March, 2018

COMMERCE, Trade and Industry Minister CHRISTOPHER YALUMA says cabinet has approved the National Industrial Policy in order to accelerate economic growth for the country through industrialisation.

Mr. YALUMA says previously, industrial policy issues were covered under the Commercial, Trade and Industrial Policy, which covered both trade and industrial development matters.

He added that the revised stand-alone Industrial Policy would allow for emphasis on industrial development and compel industries operating in Zambia to process the *local raw materials* into finished products.

Speaking on the sidelines of the SADC Council of Ministers’ Conference being held in Pretoria , South Africa, Mr. Yaluma said the revised policy will help promote the creation of more industries in the country.

He observed that industries across all sectors that were getting raw materials locally will be expected to start adding value to such materials in order for the country to draw tangible maximum benefits from them.

Mr. YALUMA mentioned that the move will help create employment for the local people as well as increase government’s revenue base.

He added that value addition to local raw material will further create business opportunities for local Small and Medium Enterprises through supply of goods and services, hence, helping government achieve its goal of wealth creation for all its people.

Mr. YALUMA observed that processing of raw materials into finished products as expected by the revised policy will help revive the manufacturing industry in Zambia.

And Mr. YALUMA said his Ministry has also finished reviewing the Trade Policy which has been submitted to Ministries for consultations.

He said government was developing the revised and standalone Trade Policy in order to bring it into tandem with among others, the aspirations of the Africa Continental Free Trade Area ACFTA which Zambia is expected to sign once consultation processes were finished.

He mentioned that once the revised trade policy was approved, it would prevent the dumping of goods and services onto the Zambian market from other countries but enable Zambia become an equal trade partner both at regional and continental level.