Zim opens economy, trade to other countries

Zimbabwe is implementing tariff liberalisation to open the economy and trade with other member States and has also applied for relaxation to be exempted from implementing tariff reductions on several goods due to challenges being faced by the local business community.

This was said by Zimbabwe Ambassador to Mozambique, Ambassador Dr Victor Matemadanda in a speech read on his behalf by the country’s Consular General in Beira, Stephen Kudarawanda, during the ZimTrade’s Outward Trade Seller Mission to Tete Province of Mozambique recently.

Ambassador Matemadanda urged the business community to take advantage of the regional and continental trade agreements to market their products and services.

“As we deliberate, let us engage to find solutions on how our products will be transported at a competitive cost without border hassles. Our Government officials should be able to resolve any potential trading challenges so that our bilateral trade continues to grow.

“Mozambique is Zimbabwe’s all weather friend and a very important strategic location and lifeline for Zimbabwe’s economy. Our countries are both members of the Common Market for East and Southern Africa (COMESA), SADC and the African Continental Free Trade Area (AfCFTA). These trade agreements allow us to trade with each other duty free and quota free on non-sensitive and exclusive products,” said Ambassador Matemadanda.

He added: “The Zimbabwean Government is implementing tariff liberalisation to open the economy and trade with other member States and has also applied for relaxation to be exempted from implementing tariff reductions on several products due to challenges being faced by the local business communities.”

The 2023 Tete Trade Mission follows the successful hosting of a similar mission in Chimoio, Manica Province. During that mission, companies from both nations managed to seal deals that have culminated into trade of goods and services.

Trade between Zimbabwe and Mozambique increased by 80.7 percent between January and April 2023, compared to the same period last year from US$58 million to US$106 million, making Mozambique the country’s fourth largest export market.

The growth in trade with Mozambique also points to successes recorded by National Export Strategy, whose target also include diversifying export markets, which will help address challenges that may arise because of over reliance on South Africa.

To further cement trade between the two sister nations, in May, ZimTrade and Zimbabwe Investment and Development Agency (ZIDA), organised a business forum alongside a State visit by the Mozambican President, Dr Filipe Nyusi. The objectives of the forum were to help Zimbabwean and Mozambican boost trade and investment among themselves as well as increase trade between the two countries.

During the business forum, President Mnangagwa called for increased trade with Mozambique through strategic synergies between the two countries’ private sectors.

It was in line with President Mnangagwa’s clarion call for increased trade between the two countries that resulted in the facilitation of the ZimTrade Outward Trade Seller Mission to Tete.

“President Mnangagwa also called for the two nations to deepen their trade ties through Accelerating Trade and Investment. This was further stressed by President Nyusi who advised that there is need to fully exploit the in-trade and strengthen the ties between the two nations.

“In 2022, President Mnangagwa visited Mozambique at the invitation of President Nyusi which was premised on the solid relations between Zimbabwe and Mozambique, but most importantly it is the commitment by Zimbabwe to capacitate Mozambique post the current challenges in Cabo Delgado, where Zimbabwe among other SADC countries, has taken the responsibility to capacitate the Mozambican Defence Forces so that they hold their ground and stop any future spread of terrorism,” said Ambassador Matemadanda.

He assured delegates of the embassy’s continued support in addressing issues affecting bilateral trade between the two countries.

“I implore you to come up with strategies to strengthen our bilateral trade by flagging trade and investment opportunities that exist in both countries. It is worth nothing that there are business strategies, customer strategies and market strategies that can be used in order to harness the full potential of our nations,” he said.

Tete Provincial Governor, Domingos Viola, hailed the Presidents of both countries for creating an enabling environment for trade and business to flourish between the two countries.-ebusinessweekly