by Mukosha Funga on 20 Apr 2019by Zondiwe Mbewe on 20 Apr 2019by Mukosha Funga on 19 Apr 2019by Sipilisiwe Ncube on 19 Apr 2019
- Goal Diggers
by Abraham Kalito on 27 Mar 2019by Abraham Kalito on 26 Mar 2019by Abraham Kalito on 26 Mar 2019by Abraham Kalito on 26 Mar 2019
by Diggers Correspondent on 19 Apr 2019by Stuart Lisulo in Lumwana on 19 Apr 2019by Mirriam Chabala on 19 Apr 2019by Stuart Lisulo in Lumwana on 18 Apr 2019
by Zondiwe Mbewe on 19 Apr 2019by Zondiwe Mbewe on 19 Apr 2019by Zondiwe Mbewe on 19 Apr 2019by Zondiwe Mbewe on 18 Apr 2019
- Editor's Choice
by Diggers Reporter on 4 Mar 2019by Andyford Mayele Banda on 29 Jan 2019by Davies Mwila on 22 Jan 2019by Diggers Reporter on 17 Jan 2019
by Diggers Editor on 19 Apr 2019by Diggers Editor on 18 Apr 2019by Diggers Editor on 17 Apr 2019by Diggers Editor on 16 Apr 2019
by Felix Kashweka on 2 Apr 2019by Thomas Mulenga on 29 Mar 2019by McQueen Zaza on 26 Mar 2019by Zindikilani Banda in Sinda on 20 Mar 2019
- Guest Diggers
by Dr Munyonzwe Hamalengwa on 18 Apr 2019by Chisoni Mumba, PhD on 14 Apr 2019by Dr Chisoni Mumba, PhD on 28 Mar 2019by Sishuwa Sishuwa on 25 Mar 2019
Looming BREXIT deal won’t affect Zambia-UK trade – ZACCIBy Milimo Namangala on 24 Dec 2018
The Zambia Chamber of Commerce and Industry (ZACCI) says if Britain eventually leaves the European Union (EU) next March, Zambia is not likely benefit by having increased trading opportunities with that country.
British Prime Minister Theresa May triggered the process of leaving the EU to formally cut off links on March 29, 2017, after British voters chose to leave the trade bloc during the historic 2016 referendum, dubbed “Brexit.”
The means that the UK is scheduled to leave the EU at 23:00 hours, UK time, on Friday, March 29, 2019.
Since “Brexit” is now British law, the UK is due to leave the EU next March regardless of whether there is a deal with the EU or not, throwing into question where Britain’s future major trading links will now be with.
Commenting on the development, however, ZACCI president Michael Nyirenda argued that Zambia does not stand to benefit much from Britain’s “Brexit” deal with the EU.
Nyirenda noted that Zambia would still maintain its usual trading benefits with Britain at a much smaller scale compared to trading with the EU on a larger scale.
“Whether UK succeeds with a deal or no deal, I don’t think we need to be looking at choosing whether we should trade with the UK or trade with the EU, we’ll trade with both. But the fact is that their own arrangement is that, the UK will not have access to the EU market,” Nyirenda explained in an interview.
“With the EU, you have more than one currency, so it’s a bigger market than you have with the UK; even in terms of population, numbers of GDP and everything else. But the point is that, for us, I don’t think it is going to provide any bigger market than it is currently because we are able to export to the UK, we are also able to export to the EU.”
Nyirenda added that Zambians enjoy more trading benefits with the EU market, which consists of different countries unlike the UK, which has one market.
“The only thing I currently see is that, if you go to the UK market, it’s one market; but even currently, you know that the UK does not accept the euro per say even in their current state. They still insist on their pound, but when you are in the EU, you can actually use the euro across, which is the issue I am talking about in terms of free trade. So, to me, I don’t think it will add any additional value for us, we’d have to keep both the EU as well as the UK in terms of our strategic plans,” Nyirenda added.
He also pointed out that Zambia has had linkages and a long history with the UK since colonial times, which has led to the UK thriving on providing more services, such as offering education.
He added that this calls for Zambia to focus on finding a way to intensify trade links with the UK as a trading partner.
Meanwhile, commenting on the trend of unregistered businesses in the country, Nyirenda said in order for the government to maximise on getting revenue, all Zambians must register their business, including those exempted from making payments temporarily.
“As a country, we need to realign all businesses so that we can then all contribute to the development of the country; in fact, the best is that as a country, you ask what you can do for a country than what the country can do to you,” said Nyirenda.
“The government through the Ministry of Finance will exempt certain people or companies for a specific purpose, but that does not mean they should not be formalized. So, in short, they should be formalized and registered, both as a business or business name, but also for the purpose of knowing and taxation that we all need to do that.”
He further urged any kind of business regardless of size to register as a company.Related Items
Subscribe for email alerts
ArchivesMay0 PostsJun0 PostsJul0 PostsAug0 PostsSep0 PostsOct0 PostsNov0 PostsDec0 Posts
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
The News Diggers
Deputy News Editor
Plot No. Lus/9812/649-MC8
off Alex Chola Road
P.O. Box 32147
Telephone or WhatsApp:
diggers [at] diggers [dot] news
editor [at] diggers [dot] news
Send this to a friend