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Zambia and the United Arab Emirates on Friday signed three agreements aimed at enhancing economic and trade relations between the two countries.

The agreements include the promotion and reciprocal protection of investments, avoidance of double taxation and prevention of fiscal evasion with respect to taxes and incomes.

Business24

The two countries also signed the agreement on mutual visa exemption for holders of diplomatic passports.

Minister of Foreign Affairs, who signed on behalf of Zambia after bilateral talks, said the agreements will contribute towards enhancing economic cooperation between the two countries, according to a release from his office.

The agreements will also provide opportunities for enhanced trade and investment in different sectors such as infrastructure, energy and agriculture among others.

The signing of the agreements was a direct outcome of a visit by President Edgar Lungu to the UAE in November last year, he added.

According to him, the effective implementation of the agreements was critical as the agreements will also contribute to the ease of doing business in either of the two countries.

He affirmed Zambia’s commitment to ensuring that the agreements are implemented.

Reem Ebrahim Al-Hashimi, UAE Minister of State, who signed on behalf of her country thanked the Zambian leader for undertaking a state visit to the UAE which has resulted in the culmination of the signing of the agreements.

She said Zambia was ripe for investments and expressed hope that the agreements would be a success. Enditem

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