‘Government committed to fostering environment where trade can thrive’

GOVERNMENT has reaffirmed its commitment to prioritising the development of infrastructure that supports trade, aiming to position Zimbabwean industries to reap maximum benefits from trade agreements, including the African Continental Free Trade Area (AfCFTA).

This was revealed by Industry and Commerce Minister, Mangaliso Ndlovu at a business and awards dinner held recently in Bulawayo.

Hosted by the Youth Network Connect (YNC). Themed “Building Inclusive Local Sustainable Investment Opportunities through Entrepreneurship,” the event brought together various stakeholders to discuss strategies for unlocking economic opportunities.

African-Continental-Free-Trade-Agreement-

In a speech read on his behalf by ministry official, Mr Brighton Ndebele, Minister Ndlovu acknowledged Zimbabwe’s rich resource base, talent and potential. He, however, pointed out that challenges remain in fully harnessing these strengths for economic progress.

“We must unite our efforts to operationalise our trade policies effectively and capitalise on the opportunities presented by the AfCFTA agreement,” said Minister Ndlovu.

AfCFTA, a landmark agreement endorsed by 54 African Union member states, aims to establish a single continental market for goods and services, enabling free movement of commodities, capital and people, across Africa.
Minister Ndlovu highlighted the potential for Zimbabwe to diversify export markets and strengthen regional trade ties.

With 54 out of 55 African Union nations having signed this agreement, AfCFTA presents a remarkable opportunity for Zimbabwe to expand its trade horizons.

“Our Government has recognised the importance of trade promotion as a catalyst for economic growth. Through strategic policies, investment in infrastructure and support for local businesses, we are committed to fostering an environment where trade can thrive,” said Minister Ndlovu.

He outlined the Government’s strategic focus on trade-enabling infrastructure, such as roads, railways and ports, to improve connectivity and reduce transport costs.

Minister Nqobizitha Mangaliso Ndlovu

Government is also simplifying trade regulations, streamlining customs procedures and enhancing digital trade platforms to make trading more efficient and accessible.

Minister Ndlovu said this will make it easier for businesses to export their products and access international markets.
Recognising the pivotal role of small and medium enterprises (SMEs) in the economy, Minister Ndlovu said the Government is implementing programmes to provide SMEs with access to finance, training and other resources to help them compete locally and internationally.

“We are working to simplify trade regulations and reduce bureaucratic hurdles. By streamlining customs procedures and enhancing digital trade platforms, we aim to make trading more efficient and accessible for all,” he said.

“The AFCFTA allows us to diversify our export markets. We are actively seeking to promote Zimbabwean products in new African markets, tapping into the vast potential of our regional neighbours.”

Minister Ndlovu also underscored the importance of education and training in trade-related fields, ensuring Zimbabwe’s workforce is equipped with the necessary skills to compete in the global marketplace.

YNC founder and director, Mr Philemon Nyirenda, stressed that achieving the goals of the National Development Strategy 1 (NDS1) and AfCFTA requires a collaborative approach involving Government, the private sector, civil society and international partners.

National Development Strategy 1 (NDS1)

“It can be noted that implementing National Development Strategy 1 (NDS1) and AfCFTA requires collaborative efforts from the Government, private sector, civil society and international partners,” he said.

“Thus, we must develop implementation plans, engage stakeholders, build capacity for entrepreneurs and SMEs and monitor progress and adjust strategies.

“As a means to achieve our goals, we must address the challenges that hinder entrepreneurship, such as limited access to finance, inadequate infrastructure and regulatory constraints. We require innovative solutions, partnerships and investments to overcome these barriers.”

Mr Nyirenda also called for the development of export-oriented industries, capacity building for SMEs and entrepreneurs and improved monitoring and strategy adjustment mechanisms to ensure progress. —chroncile