Story by Stanley James, Business Editor
Findings by the country’s export promotion body, ZimTrade indicate that agricultural equipment and processed foods are dominating Zimbabwe’s export market share in Zambia.
The report released during the Zambia Agriculture and Commercial Show in Lusaka indicates that local companies in the production of agricultural equipment and processed foods continue to find their footing in the Zambian market, amid efforts to expand their footprint in the neighbouring country.
Commenting on the findings, ZimTrade Client Advisor, Mr Valile Dube said the country should maximise on the production of agricultural implements and processed goods.
“You have seen it yourself that for a start, the need to grow exports is in the right direction taking into account our government efforts to deliberately come up with a cocktail of interventions whose thrust is all about identifying new markets, formulating challenges facing exporters and focus on the future. So, the entire exhibition has become imperative of being a key choice towards driving exports and increasing employment creation,” he said.
With the country targeting a 10 percent annual growth in exports as revealed by the National Development Strategy One, diversification of the export market has been cited as an important element.
“The trajectory currently experienced entails the need to come up with mechanisms premised towards increased production. Given the extent to which Zimbabwe is growing exports, it becomes imperative for the local companies to tap into the neighbouring economy in light of the vast demand for agro-equipment and processed foods,” added Mr Dube.
Exports continue to be the main driver of the country’s foreign currency inflows that have for the past two years been hovering above US$10 billion.
