Businesses in Zimbabwe are being urged to make the most of regional and continental trade agreements to market their products and take advantage of investment opportunities.
This is according to Foreign Affairs and International Trade Minister Dr Frederick Shava, following the SADC Committee of Ministers of Trade and the Ministerial Taskforce on Regional and Economic Integration.
Zimbabwe has approved the Common Market for East and Southern Africa – East African Community and SADC Tripartite Agreement (TFTA).
In addition, Zimbabwe has also signed and sealed the agreement establishing the Free Trade Area and the African Continental Free Trade Area (AfCFTA).
Shava stated: “This is line with the African Union’s Agenda 2063 programme which also includes the programme for Accelerated Industrial Development, Programme for Infrastructure Development and Boosting Inter-Africa Trade.
“These agreements create opportunities for Zimbabwean companies in terms of market for products and investment opportunities”.
He went on to say: “There are opportunities for value chains to service regional, continental and global market. It is also an opportunity to attract Foreign Direct Investment.”
The Minister added that Zimbabwe was introducing tariff liberalisation to open up the economy and trade with other SADC member states.
Moreover, during the virtual meeting, a structure for the launch of the Simplified Trading Regime was also covered, which permits cross-border trade between SADC member states for an approved range of products.
This programme would be introduced bilaterally between two agreeing member states.
In addition, the effect of the pandemic on regional trade was also discussed, along with the responses from member states.
The Minister urged other countries to approve the SADC Industrialisation Strategy and Roadmap, which aims to create regional value chains.
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posted on 06.10.2021
Plan your retirement according to the lifestyle you want
Everyone’s idea of retirement is different. Some want a simple relaxing life, others want to enjoy life and travel the world, and yet others want to take part in expensive hobbies and enjoy the luxuries of life like upgrading their homes.
posted on 06.10.2021
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