Luanda - An agreement for Lobito Corridor Traffic Transport Facilitation Agency (LCTTFA) will be signed in Angola’s coastal Benguela
Angola, Democratic Republic of the Congo (DRC) and Zambia are expected to sign the deal on Friday (27).
The announcement is expressed on Southern African Development Community (SADC)’s official website (https://www.sadc.int/latest-news/angola-drc-and-zambia-sign-lobito-corridor-transit-transport-facilitation-agency, sent to Angop.
The source states that transport ministers from the three countries are expected to sign the document during a ceremony that will take place in the Lobito Port, Benguela province.
The signing of the corridor governance tool will create a framework for the SADC state members to jointly develop laws, policies, regulations and harmonised corridor systems.
The agreement will also promote the development of infrastructures in a coordinated and consistent way, as well as, aligned with the SADC Treaty, Protocols and frameworks for development as the Regional Indicative Strategic Development Plan 2020-2030.
The agreement will boost the growth of the domestic and border trade along the Corridor through the implementation of harmonised trade facilitation instruments.
Friday´s event has the support and coordination of the Secretariat of the Southern African Development Community (SADC).
This Corridor is also expected to strengthen the coordination of joint development activities, in addition to promoting the effective participation of small and medium enterprises (SMEs) in value chains.
The Lobito Corridor stretches from Port of Lobito, bathed by the Atlantic Ocean and crosses Angola from the west to east, passing through the provinces of Benguela, Huambo, Bié and Moxico.
It also cover the mining areas of the Katanga province of the Democratic Republic of Congo (DRC) and the Copperbelt of Zambia.
In Angola, the Corridor links 40% of the country's population and several large-scale investments in agriculture and trade in the provinces of Benguela, Huambo, Bié and Moxico.
