Zim exports to Zambia up 89%

ZIMBABWEAN companies should leverage their proximity to Zambia to launch new products and increase export volumes which have been steadily growing from US$58,35 million in 2017 to US$142,36 million last year, ZimTrade chief executive officer Mr Allan Majuru has said.

ZimTrade is facilitating the participation of more than 25 local companies at the 96th edition of the Zambia Agricultural Commercial show in Lusaka which runs from July 31 to August 5, 2024.

The trade fair will be held under the theme “Creating a Competitive Future”.

The Zambia Agricultural and Commercial Show (ZACS) is a diverse trade fair that offers a platform for businesses to exchange information, display agricultural and industrial technologies, and engage in B2B meetings with prospective buyers from the region and beyond.

ZimTrade has indicated that a variety of export-ready companies, both large and SMEs, from sectors such as manufacturing, agricultural input and implement supply, FMCG, services, and industrial mining machinery and equipment, will be participating, among others.

Mr Majuru said the Zambian market offers a distinct advantage.

“Through continued engagement, familiarity with the high quality of Zimbabwean products has grown among Zambian buyers and consumers. This presents a valuable opportunity for local companies to not only introduce new products but also expand exports of existing offerings,” he said in a statement.

ZimTrade has regularly participated at the fair where Zimbabwean products have continuously been praised by local consumers and buyers.

Local companies have managed to establish fruitful distribution partnerships while others have even managed to open establishments within Zambia creating sustainable trade between the two countries.

According to ZimTrade, trade data from Trades Map indicates a significant increase in Zimbabwe’s exports to Zambia.

Exports have grown from US$58,35 million in 2017 to US$142,36 million in 2023, reflecting a remarkable 89 percent growth.

Therefore, recognising the immense potential, ZimTrade, under the guidance of the Ministry of Foreign Affairs and International Trade, is actively pursuing initiatives to capitalise on the positive trend.

“This includes a recent Memorandum of Understanding (MoU) signed with their Zambian counterpart in March 2024 at the 8th session of the Zimbabwe-Zambia Joint Permanent Commission on Cooperation to facilitate trade opportunities between Zimbabwean and Zambian businesses.

“Building on this momentum, ZimTrade has facilitated local company participation in key events in Zambia, including the Zambia Agritex Fair and the upcoming Zambia Agricultural and Commercial Show. Additionally, a buyer delegation visit from Zambia is planned before year-end, allowing for direct interaction with Zimbabwean companies,” ZimTrade noted.

Zimbabwe and Zambia share four border posts and the Chirundu Border post is the first one-stop border post that was launched in 2009, through a Bilateral Agreement.

This is the first functioning One-Stop Border Post in Africa.

On Tuesday, Cabinet said the Chirundu one-stop border post is set for a major facelift after Government entered into a public-private-partnership with a local firm for the upgrade and modernisation of existing buildings and infrastructure to the tune of US$66 million.

A Memorandum of Agreement has since been signed between the Ministry of Transport and Infrastructural Development and Chirundu Border Consortium.

The development will transform the one-stop-border post into a modern infrastructure and bring efficiencies as well as create employment.

ZimTrade said plans are also in place to establish a one-stop border post at the Victoria Falls and Livingstone border to facilitate trade.

Further to that, both countries are members of established regional trade agreements, including the Southern African Development Community (Ssdc) and the Common Market for Eastern and Southern Africa (Comesa).

The agreements facilitate trade between member states by promoting the free movement of goods and services, with the ultimate goal of eliminating tariffs and non-tariff barriers.

“This presents a significant advantage for Zimbabwean manufacturers and distributors. By leveraging these trade agreements, they can potentially reduce logistics costs and minimise import duties when exporting to Zambia, translating to increased profitability for Zimbabwean businesses operating within the Comesa and Sadc frameworks,” ZimTrade added.-chroncile