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Zambia to benefit from global fund to enhance tradeThursday, January 28, 2016 > 10:11:51
Zambia is among countries to be benefited from a fund raised by donor countries during the 10th World Trade Organization (WTO) Ministerial Conference held in Kenya last December, a senior government official said on Wednesday.
Zambia will benefit from the Enhanced Integrated Framework (EIF), which is a multi-donor programme to help least-developed countries play a more active role in the global trading system and enable them to use trade as a vehicle for economic growth and poverty reduction.
Ministry of Commerce, Trade and Industry Permanent Secretary Kayula Siame said in a statement that 15 donors pledged the funds for the implementation of phase two of the project and that Zambia was one of the beneficiary countries.
The package also included a commitment to abolish subsidies for farm exports with a view to leveling the playing field in the agricultural trade, she added.
She said the abolishment of subsidies on farm exports will help in addressing distortions in pricing of agricultural products on the international market.