Story by Sifiso Sibanda
PRESIDENT Emmerson Mnangagwa has challenged industry to vigorously explore international trade opportunities and foster new synergies between Zimbabwean businesses and the global community as the country targets expanded export revenues.
The business community has been called upon to aggressively target the export market and grow their niche as the country inches towards an upper middle-income society by 2030.
Officially opening the ZimTrade Annual Exporters Conference in Bulawayo this Thursday, President Emmerson Mnangagwa challenged local industry to broaden its share in the export market for the benefit of the country’s economy.
“It is my expectation that you will graduate from not only exporting goods and services where you have comparative cost advantage. Going forward, we want to see more of you becoming competitive in other demanding and strategic areas.
“You should move with speed to diversify and improve your product portfolio so that it remains relevant and competitive, in line with the level of global technological advancements.
“Archiving these and other benchmarks relies on sound research and development. To date, my government has established innovation hubs at all state universities to create a platform that fosters and supports innovation, entrepreneurship, and technological advancements across the country.
“These have the potential to help enhance the quality of our exports by improving our production processes, particularly in agriculture, manufacturing, and service delivery,” President Mnangagwa said.
The President also called for continuous innovation, skills development, and the uptake of science and technology to enhance the competitiveness ofdomesticc products.
” The theme of this year’s conference, Qala, Tanga, start, is apt and a call to action. Our local industries which were not yet exporting are challenged to get started, make bold decisions and seize the numerous opportunities offered by global markets.
“I further, urge you to explore international trade opportunities and foster new connections between Zimbabwean businesses and global markets.
“This must in turn foster inclusivity in growing exports from across all provinces of the country and help to shift mind-set as we accelerate the attainment of vision 2030. I recognise and commend ZimTrade’s efforts to increase exports through clustering of KEY sectors.
“The approach has resulted in Zimbabwean companies entering and expanding in both traditional and non – traditional markets. Our exports increased to US$4.56 billion during the period January to August 2024, up 1.8 percent from the US$4.48 billion recorded during the same period last year.”
The head of state further assured the nation that his government remains committed to addressing the non- tariff barriers that hinder trade while at the same time facilitating regional commerce.
“Our chairmanship of the regional bloc comes at a critical time when the African Continental Free Trade Agreement is taking shape. This new continental framework presents us with opportunities to actively shape the future of the regional trade, while also ensuring that businesses benefit from increased access to regional markets.
“The African Continental Free Trade Areas is indeed a game – changer for intra- African trade, and Zimbabwe should position itself to capitalise on this opportunity.”
President Mnangagwa also urged local companies to participate at the Expo 2025 Osaka and showcase the country’s vibrant culture and innovations while at the same time positioning Zimbabwe as a dynamic and competitive player on the global stage.
