Zim spotlights exports growth at India-Africa summit

ZIMBABWE’S plans to boost exports, tourist arrivals and attract more investors in manufacturing, mining, and agriculture sectors comes under the spotlight during the 18th edition of the Confederation of Indian Industry (CII)-Exim Bank Conclave on India-Africa Growth Partnership that begins here today.

Organisers of this year’s conclave, which ends on Friday, say it will focus on trade, investments, exchange of knowledge and expertise, creating shared value for business and industry at large between India and Africa.

Vice-President, Dr Constantino Chiwenga, is expected to lead Zimbabwe’s delegation. Guests of honour at the conclave are VP Chiwenga, The Gambia Vice-President Muhammad Jallow and DRC Deputy Prime Minister Vital Kamerhe Lwa Kanyiginyi Nkingi.

Apart from attending the conclave, VP Chiwenga is expected to have a number of side events including engagements with Indian VP Jagdeep Dhankhar and the India Minister of State for Health and Family Welfare, Dr Bharati Pravin Pawar.

Zimbabwe’s Ambassador to India, Dr Godfrey Chipare, said Harare will have a “multifaceted delegation touching all sectors of the economy” in order to thrash out beneficial deals that will help in the attainment of an empowered upper-middle income society by 2030.

Through its participation, Zimbabwe seeks to promote exports to India, lure investors, advance synergies across economic sectors, engage in cultural exchange and attract Indian tourists.

This comes as bilateral trade has largely favoured India over the years, with Zimbabwean exports to New Delhi amounting to about US$10,4 million last year, up from US$5,7 million in 2021. Zimbabwe mainly exports tobacco, coffee, and tea to India.

However, Zimbabwe’s imports from India amounted to US$228 million last year, a rise from US$188 million recorded in 2021.

Money – Image taken from Pixabay

The Second Republic led by President Mnangagwa is determined to reduce the huge trade deficit and achieve a trade surplus with India, which makes the promotion of Zimbabwean exports during this conference critical.

To achieve the plan, the Government intends to engage private sector businesses with export potential through the Ministry of Industry and Commerce, ZimTrade, Confederation of Zimbabwe Industries and Zimbabwe Investment and Development Agency (ZIDA), so that they ramp up production and export to India.

Zimbabwe’s value-added products will be exhibited at the stand allocated to the country at the conclave. In addition, there are plans to showcase dummy minerals including gold, diamonds and chrome to encourage exports of these minerals.

Zimbabwe will showcase its potential under the theme: “Visit. Invest. Trade — Zimbabwe”, which covers tourism, investment and trade.

Zida is expected to showcase trade and investment opportunities, which investors can exploit in a manner that will help local communities. On investment, the proposed sectors to be highlighted include agriculture, health, ICT, energy, infrastructure development, mining and education.

Zimbabwe believes the Indian conclave will allow Government officials to explain the philosophy “Zimbabwe is open for business” mantra, which was refined by President Mnangagwa recently to say, “but not open for abuse”.

While a number of Indian companies are already operating in Zimbabwe including oil processor, Surface Investments and Varun Beverages Limited, there is conviction in Government circles that more investors could be attracted to Harare and the conclave is a great platform for that.

Varun Beverages, which has grown to become one of the biggest beverages companies in Zimbabwe, produces soft drinks that include Pepsi, Mirinda and 7Up.

In the tourism sector, Zimbabwe wants to increase the number of tourists visiting the country from the present average of 6 000 per year.

A desk will be set up to promote tourist attraction destinations in Zimbabwe to encourage Indian tourists to visit the country.

Through the conclave, Zimbabwean companies are also expected to be inspired to think outside the box and explore new ideas to grow their businesses.

The conclave has not only set the ground for many new cross-border partnerships to take root but also created a platform for a critical evaluation of the existing collaborative arrangements on which a new roadmap for future Africa partnerships will be designed.

Forty-two African countries including Zimbabwe, 800 African businesspeople and 800 Indian businesspeople alongside other businesspeople from other continents, are expected to attend the conclave which takes place at the Taj Palace in New Delhi.

Other African countries expected to be represented are Malawi, Cameroon, Central African Republic, Botswana, DRC, Burkina Faso, Congo, Eswatini, Ghana, Gabon and Guinea.-chronicle