Bulawayo to host inaugural trade conference

THE Competition and Tariffs Commission (CTC) will hold its inaugural trade tariff conference in Bulawayo next month to unpack several trade agreements entered into with regional and international bodies.

The conference, to be headlined by Industry and Commerce Minister Dr Sekai Nzenza, will run between 14 to 15 September under the theme: “Unpacking Zimbabwe’s Trade Agreements and Benefits That Can Accrue to Local Industry”.

Zimbabwe is a member to multi-lateral and regional trade agreements, which include the Southern Africa Development Community (Sadc), Comesa, Tripartite Free Trade Area (TFTA), African Continental Free Trade Area (AfCFTA), Economic Partnership Agreement (EPA) and several other bilateral trade agreements.

AfCFTA

These trading agreements have enabled local industries to have access to other member states’ markets and secure raw materials and other products at liberalised tariffs.

According to the preliminary conference programme, participants will unpack the Sadc, EPA, AFCFTA and Comesa agreements, access to the UK market post-Brexit, trade opportunities and threats for Zimbabwe industry under AFCFTA and resource mobilisation for the private sector under AfCFTA.

Comesa

Zimbabwe has embraced the AfCFTA deal, which came into force last year in January and presents preferential trade provisions for 55 member countries. AfCFTA is set to promote inclusive and sustainable development of the entire continent.

With regards to post Brexit, when the UK exited the European Union configuration in 2017 after 47 years under a withdrawal agreement popularly known as “Brexit”, it meant that agreements the UK had with the EU, including the EPA obligations with Eastern and Southern Africa (ESA), no longer apply.

Sadc

The UK is a key export destination for Zimbabwe’s agricultural products such as peas, citrus fruits, berries and cut flowers, among others.

In order to address the Brexit challenge, Zimbabwe is now required to have a different trade agreement with the UK under preferential terms. Before Brexit, Zimbabwe and UK trade relations were governed by the EU-ESA iEPA, which was signed in August 2009.

The iEPA allowed Zimbabwe’s exports to enter the European market, including the UK then, duty free. Presentations are expected from ZimTrade, AFCTFA secretariat, UK embassy and the World Bank.-chronicle.cl.zw