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Zimbabwe: ZimTrade Nudges Exporters to Explore Regional Markets

by telegramnews
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ZimTrade chief executive Allan Majuru says local exporters must exploit opportunities in Malawi, Namibia and Angola, a combined market of 50,8 million people and gross domestic product (GDP) of US$126, 6 billion.

ZimTrade carried out market surveys in Malawi, northern Namibia and southern Angola in October and November last year to generate information on business opportunities and potential market allies in the three countries.

It also sought to gather market intelligence after Zimbabwe’s exports underperformed over the last two decades.

Zimbabwe has been experiencing a serious trade deficit over the years due to weak or low outbound trade activities; given trade is one of the key drivers of sustainable economic growth and development of a nation.

The surveys conducted by ZimTrade specifically covered Lilongwe and Blantyre in Malawi, and in northern Namibia it traversed Ongwediva, Ondangwa, Rundu, and Oshakati) and Onjiva and Lubango. In southern Angola

The surveys focused on horticulture, fast moving consumer goods, furniture, building and construction and service sectors.

Giving opening remarks at dissemination seminar of the market survey findings in Harare yesterday, Mr Majuru said industrial players should make good use of the vast export opportunities in the three countries.

“The economy of Malawi, which is a US$7,1 billion economy of 17,6 million people, has an US$2,7 billion import bill, which presents a good opportunity for increase in trade between our two countries. The market offers local exporters, registered under trade agreements either COMESA or SADC, duty-free and quota-free access.