Economic Updates - Featured - Regional - April 14, 2021

Zimtrade to upgrade trade beyond borders

National trade development and promotion organisation, ZimTrade is intensifying its engagements with regional markets to explore opportunities for local products and services by exploring Tanzania markets.

This is in line with the liberalisation of trade within the continent under the African Continental Free Trade Area (AfCFTA) which embarked on 1 January 2021.

BusinessMail ascertained this through a statement by Zimtrade which read that the organisation is currently conducting a market survey in Tanzania, running from 12-23 April and a pre-mission assessment in Democratic Republic of Congo, which is running from 12-16 April.

The two in-market activities are expected to provide market intelligence that will help Zimbabwean companies get an insight in terms of what products have an export potential, and the market requirements as well as what are the export penetration strategies they can use for the two markets.

ZimTrade will be engaging buyers from leading retail chains in Tanzania to discuss demand patterns and requirements that local exporters will need to meet as they increase exports to the country.

Speaking on the objectives of the survey in Tanzania, ZimTrade Operations Director, Similo Nkala, said regional markets provide a soft landing for Zimbabwean products as they are easy to access and do not have strict requirements.

“There are vast opportunities for local exporters in Tanzania, especially small businesses riding on regional and continental trade agreements.

“Given the proximity to Tanzania, small businesses should consider the country as a springboard to international markets. “Both Zimbabwe and Tanzania are signatories to the Southern Africa Development Community (SADC) Trade Protocol which stimulates and encourages trade by giving one another preferential treatment in the reduction or elimination of customs duties.,” said Nkala.

Moreover, ZimTrade will link with Government related institutions to discuss ease of doing export business that will improve Zimbabwe’s access to the East-African market.

These engagements dovetail with the Government’s agenda of economic diplomacy, which is identified by the National Development Strategy 1 as having huge potential to improve the country’s image, strengthening cooperation with the international community, thus improving economic recovery growth prospects.

 

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