President Hichilema called for a Cabinet Meeting on Tuesday, 5th September, 2023, at State House, where the Draft 2024 Budget was deliberated on including other policy issues.
By Hon. Chushi Kasanda | Information Minister.
Lusaka, Sept. 13 – Cabinet made the following decisions:
◾The 2024 National Budget.
Cabinet approved the Estimates of Revenue and Expenditure (The National Budget) for the Year 2024.
The 2024 Estimates of Revenue and Expenditure have been prepared in accordance with The Budget Policy Concept Paper on the 2024-2026 Medium Term Budget Plan which was approved by Cabinet at its 11th Meeting held on 12th July, 2023.
The Minister of Finance and National Planning is expected to present the 2024 National Budget in the National Assembly on Friday, 29th September, 2023, in line with Article 202 (1) of the Constitution of Zambia.
◾Declaration of Critical Minerals as Strategic Minerals for Zambia’s Development.
Cabinet approved the declaration of critical minerals such as copper, cobalt, lithium, tin, graphite, coltan, manganese, nickel, Rare Earth Elements (REEs), gold, sugilite, emeralds, diamonds and other minerals which Government may deem as strategic minerals essential in accelerating Zambia’s development.
The declaration of critical minerals, as strategic, will result in the formulation of the strategy on critical minerals which will stimulate Government and private sector participation in unlocking investments in the mineral value chain, thereby translating in the creation of more jobs as well as enhanced exploitation of the critical minerals to contribute significantly to the national treasury and to the country’s development.
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◾Opening of Missions Abroad.
(a) Opening of a Resident Embassy in Abu Dhabi, United Arab Emirates.
During the Meeting, Cabinet also deliberated on matters of foreign relations. One of the issues approved by Cabinet was the Opening of a Resident Embassy in Abu Dhabi, the United Arab Emirates (UAE) in order to enhance bilateral relations and promote economic and political cooperation between Zambia and the UAE.
The United Arab Emirates, is a federation of seven Emirates. The constituent emirates are Abu Dhabi (which serves as the capital), Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain. Each emirate is governed by an absolute monarch who jointly form the Federal Supreme Council. One of the monarchs is selected as the President of the United Arab Emirates.
The UAE’s oil reserves are the seventh-largest in the world, while its natural gas reserves are the world’s seventeenth-largest. The UAE’s economy is the most diversified in the Gulf Cooperation Council, with its most populous city of Dubai emerging into a centre for international trade and transport.
The United Arab Emirates established Diplomatic Relations with Zambia in 1982. The two countries have since continued to enjoy warm and cordial relations that have created a platform for strengthened economic and political relations. Currently, Zambia’s Ambassador to the Arab Republic of Egypt is also accredited to the United Arab Emirates.
Zambian Foreign Policy of 2014, whose main focus is Economic Diplomacy, provides a unique platform for which Zambia could explore the possibility of concluding bilaterial agreements in a quest to solidify and strengthen the two countries’ bilaterial relations with emphasis on economic sectors, through the opening of a Resident Embassy in Abu Dhabi, UAE.
(b) Opening of a Resident Embassy in Doha, State of Qatar.
Cabinet also approved the opening of another Resident Embassy in Doha, State of Qatar so as to enhance bilateral relations and promote political and economic cooperation between the two countries.
The Republic of Zambia and the State of Qatar enjoy warm and cordial relations. The two countries have maintained diplomatic relations since they were established. Currently, Zambia’s Ambassador in Riyadh, Saudi Arabia, is accredited to the Qatar on non-residential basis. The Zambian Government desires to consolidate relations with the State of Qatar through enhancing cooperation in various economic sectors.
The economy of Qatar is one of the greatest in the world, based on GDP per capita, ranking among the top richest countries. Petrochemicals and fertilizers supply make up a large portion of the industrial base, along with steel and other construction materials. It has the world’s third largest natural gas reserves, making it one of the world’s largest exporters of Liquefied Natural Gas (LNG) and also has the largest gas fields with its oil and gas reserves accounting for over 60 percent of its GDP.
Therefore, with a Resident Embassy in Qatar, the Zambian Government has a lot to benefit from economic ties with the State of Qatar.
◾Hosting of the 19th Comprehensive Africa Agriculture Development Programme Partnership Platform.
Cabinet, in line with its policy direction that Zambia should host as many international Conferences and Meetings, as a way to boost tourism, approved the hosting of the 19th Comprehensive Africa Agriculture Development Programme Partnership Platform (CAADP-PP), to be held from 1st to 3rd November, 2023.
Zambia is repositioning itself to be a breadbasket of the region and meet the domestic and regional demand for food. The country has also embarked on diversifying its agricultural production. Therefore, hosting the 19th CAADP-PP is important as it will provide Member States and other stakeholders with an opportunity to engage with one another as well as to share best African practices and leadership that have the potential to engender inclusive economic growth, benefit smallholder farmers, boost food production and end hunger across the African Continent.
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