CABINET APPROVES 2027 NATIONAL BUDGET, ZAMBIA-UAE TRADE AGREEMENT

Cabinet has approved the proposed 2027 National Budget and Zambia’s Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE), aimed at strengthening economic growth, trade and investment.
The decisions were made during the third Cabinet meeting of the second term of President Hakainde Hichilema’s administration, held at State House on October 30, 2026.
According to a press statement issued by Minister of Information and Media and Chief Government Spokesperson Elvis Nkandu, the 2027 Budget includes revenue mobilization, public expenditure and structural reform measures to support the implementation of the Grow Zambia Agenda.
Mr Nkandu said Cabinet has emphasized the need for sustained macroeconomic stability and prudent fiscal management to strengthen investor confidence, stimulate private sector participation and support economic transformation.
The proposed 2027 National Budget is scheduled to be presented to Parliament on Friday, November 6, 2026.
Cabinet has also approved the signing of the Comprehensive Economic Partnership Agreement between Zambia and the UAE, together with the establishment of mechanisms for its implementation, import surveillance and periodic review.
The agreement is expected to expand market access for Zambian goods and services, promote export diversification, facilitate technology transfer and attract investment into productive sectors of the economy.
Meanwhile, Cabinet has approved in principle the introduction of the Trade Remedies Bill, 2026, aimed at strengthening the legal framework for protecting local industries against unfair international trade practices.
The proposed legislation will consolidate provisions on trade remedies under a single law and provide safeguards for various sectors of the economy, in line with World Trade Organization guidelines.
The Bill will also necessitate amendments to the Control of Goods Act and the Customs and Excise Act.
The three decisions form part of Government’s broader efforts to promote economic transformation, strengthen domestic industries and advance the Grow Zambia Agenda.