Dubai conference to unlock Zim investment
OVER 40 Zimbabwean companies and Government institutions are participating at the Zimbabwe-Dubai Trade and Investment Conference that opens today and is expected to unlock opportunities for local entities.
Organised by national trade development and promotion body, ZimTrade, the conference will run until February 17, 2022 on the sidelines of the Expo 2020 Dubai, which ends on March 31, 2022.
Industry and Commerce Minister, Dr Sekai Nzenza is leading the business delegation to the event, which is expected to facilitate improved engagements between public and private sectors in Zimbabwe and United Arab Emirates (UAE).
Speaking on the focus of the conference, ZimTrade chief executive officer, Allan Majuru said the event complemented re-engagement efforts currently being undertaken by President Mnangagwa’s administration to improve trade and investment into the country.
“This is part of the concerted efforts currently underway to ease engagements between Zimbabwean business and partners across the world, along the lines of economic diplomacy.
“The event comes at a time when trade and investment have been identified as integral towards the country’s attainment of upper-middle-income status by 2030,” said Mr Majuru.
The platform, he said, had the potential to cultivate strong networks between Dubai and Zimbabwe’s participating private and public sector entities.
Participating companies from Zimbabwe are drawn from sectors that have been identified as being low hanging fruits.
Horticulture offerings like avocados, mangoes, macadamia nuts, vegetables, chillies, sweet corn, peas, tomatoes, sweet potatoes, processed foods and beverages, meat and meat products, leather and leather products, clothing and textiles, and essential oils have a ready market in the Middle East country.
Other sectors that will be represented include manufactured tobacco, building and construction, arts and crafts, mining, information and communication technologies, agricultural inputs, and implements.
Services sectors such as finance, education, travel, and tourism are also participating in the business conference.
The event has a high chance to culminate in increased exports and flow of investment between Dubai and Harare.
Mr Majuru said the engagements between the two countries will present an opportunity to access the Middle East markets as it currently is the most important regional export hub and has become the third-largest export centre in the world after Hong Kong and Singapore.
“Dubai is a lucrative market with a high spending population and engagements that will take place between today until Thursday are expected to reveal how Zimbabwean companies can easily land their products in the market,” he said.
Dubai is strategically located between the east and west, making it accessible to major emerging economies in the Gulf region, linking shipping routes and facilitating goods movement between the various regions in the Middle East, Asia, Europe, and Africa.
This diversified economy and trade positioning of Dubai creates opportunities for Zimbabwean exporters, particularly those in the horticulture, arts and crafts, and services sectors.
There is a strong sense that exports of the arts and crafts sector could do well in the country given the proliferation of hotels in Dubai.
Zimbabwe-Dubai Business conference follows the outward seller mission organised by ZimTrade in mid-2021 where buyers in sectors such as fresh produce expressed willingness to import from Zimbabwe.
Already, fresh produce buyers are willing to procure avocados, strawberries, blueberries, citrus, peas, fresh and dried fruits, and sweet potatoes from the Southern Africa country.
Some of these products are already finding their way indirectly through intermediary markets such as the Netherlands.
Other produce with potential in Dubai includes tea, coffee, and goat meat.
However, to penetrate the meat market in the Islamic emirate, meat producers must ensure that their products are halaal certified.-The Herald
