Africa-Press – Angola. An agreement of the Lobito Corridor Transit Transport Facilitation Agency (LCTTFA) will be signed, this Friday, in Benguela province, by Angola, DRC and Zambia.
The act, according to a publication on the official SADC page to which press had access ( https://www.sadc.int/latest-news/angola-drc-and-zambia-sign-lobito-corridor-transit-transport- facilitation-agency ), will take place in Porto do Lobito and will be signed by the ministers of transport and development of these countries.
The signing of the corridor governance instrument will create a framework for the three SADC member states to jointly develop harmonized corridor laws, policies, regulations and systems.
The pact will also promote infrastructure development in a coordinated and coherent manner in line with the SADC Treaty, Protocols and development frameworks such as the Regional Indicative Strategic Development Plan 2020-2030.
The Lobito Corridor Transit Facilitation Agency Agreement envisages accelerating the growth of domestic and cross-border trade along the Corridor through the implementation of harmonized trade facilitation instruments.
This Friday’s event has the support and coordination of the Secretariat of the Community for the Development of Southern Africa (SADC).
This Corridor is also expected to strengthen the coordination of its joint development activities, in addition to promoting the effective participation of small and medium-sized enterprises (SMEs) in value chains.
The Lobito Corridor extends from the port of Lobito, bathed by the Atlantic Ocean, and crosses Angola from west to east, passing through the provinces of Benguela, Huambo, Bié and Moxico.
It covers the mining areas of Katanga Province of DRC and Copperbelt of Zambia.
According to the document, the Lobito Corridor presents an alternative strategic route to the export markets of Zambia and the DRC and offers the shortest route that connects the main mining regions of these two countries to the sea.
In Angola, the Corridor connects 40% of the country’s population and several large-scale investments are under way in agriculture and commerce in the provinces of Benguela, Huambo, Bié and Moxico.
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