ZiCA/PACRA ink deal to promote orderly trade

AN agreement to promote orderly trade by ensuring businesses are conducted in a regulatory manner has been signed between the Patents and Companies Registration Agency (PACRA) and Zambia Institute of Chartered Accountants (ZiCA).

The Memorandum of Understanding (MoU) signed on Monday is also meant to deal with bottlenecks faced by businesses.

PACRA acting Registrar and Chief Executive Officer Wilson Banda, said the MoU would promote mutual assistance and exchange of information to enable the two regulatory authorities perform their respective functions.

“This MoU will address a number of issues, among them is promoting orderly trade. We are talking about businesses operating in an illegal and regulatory manner and not disadvantaged,” Mr Banda said at the signing ceremony.

He urged other institutions to partner with PACRA in promoting legal trade.

And ZiCA Chief Executive Officer, Anthony Bwembya said the partnership represented an opportunity to

Mr Bwembya

deepen its engagement with the business sector.

Mr Bwembya said the partnership also presented an opportunity for ZiCA to enhance its understanding of the needs and challenges faced by companies operating in the country.

“For PACRA, we believe that our collaboration will help to strengthen the regulatory environment in which businesses operate and will promote good governance, transparency, leading to an overall economic growth of our country.

“Our aim is to establish a framework for mutual assistance, to facilitate exchanges of information and resources, and to collaborate on initiatives that will benefit both our organisations,” he said.