Zambia Proposes Economic Partnership With Switzerland
President Hichilema aims to strengthen bilateral trade as investment ties with Switzerland grow.
Updated on Oct. 28, 2026 in International Trade
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President Hakainde Hichilema announced that total bilateral trade and investment between Zambia and Switzerland has reached US$20 billion. Zambia is now seeking to formalize a comprehensive economic partnership to increase local value addition.
Why it matters
Zambia intends to pivot away from traditional investment models by leveraging Swiss capital and technology to foster job creation and domestic industry. This move aims to increase local participation in sectors like mineral extraction and technology.
In the first quarter of 2026, Zambia recorded US$4.1 billion in total export earnings, a 46.1% increase compared to the same period in 2025. Copper exports specifically reached US$2.9 billion, marking a 49.3% growth over the previous year.
The players
Hakainde Hichilema
He is the President of Zambia who is leading the push for a deeper economic partnership with Switzerland.
Bank of Zambia
This is the central banking institution of the nation which tracks and reports official export earnings and national financial data.
The details
Swiss-based commodity trading houses currently facilitate the movement of Zambian minerals to global markets. The proposed partnership seeks to shift this dynamic by prioritizing Swiss investment in domestic technology and innovation infrastructure.
Timeline
2024: Zambia exported US$4.8 billion in goods to Switzerland, representing 42.5% of the country's total exports.
Q1 2025: This period serves as the baseline for 2026 export growth calculations.
Q1 2026: Zambia recorded US$4.1 billion in total export earnings.
October 27, 2026: President Hichilema officially announced the trade figure.
Market Dynamics
Zambia's proposal follows a broader global trend set by the European Union's Critical Raw Materials Act, which prioritizes the diversification of mineral supply chains. This strategy reflects a shift toward nations demanding more domestic participation from foreign investors.
Retail and institutional investors with exposure to emerging markets should monitor how this partnership impacts regional mineral supply chains. Changes in trade policy may influence future dividend yields for firms involved in copper extraction and logistics.
The takeaway
Zambia is signaling a significant shift in its economic strategy by moving toward higher domestic value addition in the extractive sector. Investors and stakeholders should track whether these bilateral proposals lead to long-term legislative changes in trade agreements.
Further reading
Learn more about evolving global commercial ties in our International Trade section.
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