ZimTrade, the national trade development and promotion agency, said it has facilitated the participation of 25 local companies from various sectors, such as agro-processing, mining, engineering, leather, and textiles. The companies will exhibit their products and services at the Zimbabwe pavilion, as well as engage in business-to-business meetings and networking sessions with potential buyers and partners from across the continent.
ZimTrade communications manager Danai Majaha said the IATF provides a solid base for Zimbabwean exporters to expand their footprint and connect with African markets. He said the trade fair is also an opportunity to align with the country’s devolution agenda and ensure the inclusion of women, youth, and rural-based businesses in the export sector.
“Along the devolution agenda of the government, we have assured that companies to attend will come from all the provinces of Zimbabwe, mainly targeting women-led and youth-led enterprises. We are also targeting rural-based businesses to integrate previously marginalized communities and groups into mainstream exports,” he said.
Majaha said Zimbabwe has been experiencing a positive trend in export growth, driven by the government’s re-engagement efforts and trade initiatives by ZimTrade and other stakeholders. He said exports increased by 9.2 percent from $5.4 billion in January-November 2021 to $5.9 billion in the same period in 2022.
He said the IATF will help Zimbabwe to diversify its export markets and products, as well as tap into the opportunities offered by the AfCFTA, which aims to create a single market of 1.3 billion people and a combined GDP of $3.4 trillion. He said some of the emerging markets that Zimbabwe is targeting include China, Malaysia, Egypt, Rwanda, and Malawi.
The IATF is organized by the African Export-Import Bank (Afreximbank), collaborating with the African Union and the AfCFTA Secretariat. The theme of this year’s event is “Building Bridges for a Successful AfCFTA.” The trade fair is expected to attract 75 participating countries, 1,600 exhibitors, and 35,000 delegates and generate $43 billion worth of trade and investment deals.
Zimbabwe participated in the previous two editions of the IATF, held in Cairo in 2018 and Durban in 2021, where it secured $15 million and $18 million worth of deals, respectively. The country hopes to surpass these figures and boost its export earnings 2023.
Source: The Herald
