Zimbabwean firms to expand footprint in Chinese market

ZIMBABWE is looking forward to increase its footprint in the Chinese market at the 7th China International Import Expo (CIIE) 2024 which begins today until November 10 in Shanghai, China.

Hosted by China’s Ministry of Commerce and the Shanghai Municipal People’s Government, the CIIE is the world’s first import-themed national-level expo, aiming to foster trade ties by creating a platform where countries can promote their goods, services and other businesses.

CIIE presents an effective platform for Zimbabwean businesses to tap into China’s demand for high-quality artisanal and agricultural products, which aligns well with Zimbabwe’s export offerings.

The Expo will give the country a unique chance to expand its footprint within this promising market.

It also offers companies valuable insights into consumer trends, competitor strategies and regulatory requirements in the Chinese market.

National trade development and promotion organisation, ZimTrade, supported by the Ministry of Foreign Affairs and International Trade, is facilitating the participation of 11 Zimbabwean companies at the Expo.

These businesses were selected based on the market potential of their products in China, spanning key sectors such as arts and crafts, processed foods and leather products.

For these companies, the CIIE represents an invaluable platform for showcasing their products and building relationships with potential buyers from China and beyond, in a single, high-profile international venue.

The country’s participation comes when President Mnangagwa’s Second Republic is steering towards expanding Zimbabwe’s international trade network, especially with China.

ZimTrade CEO, Allan Majuru, expressed optimism about the future of Zimbabwe-China trade relations, highlighting that Zimbabwe’s export basket to China is growing in variety.

“While minerals and tobacco exports still lead in volume, emerging categories such as citrus and leather products indicate potential for diversification.

“As these new products gain traction in China, Zimbabwe can gradually reduce its reliance on traditional exports, presenting itself as a country capable of supplying diverse and high-quality goods.

“In addition to increasing the visibility of Zimbabwean products, the CIIE will help local companies generate business leads, secure new distribution channels, and expand networks with Chinese and international buyers,” said Majuru.

Critically, the expo will allow Zimbabwean firms to interact directly with potential buyers, distributors, and investors within a highly influential marketplace, as it allows them to adapt their products and business strategies in response to market demand.

Statistics show that China was Zimbabwe’s third-largest export market last year, constituting around 23 percent of Zimbabwe’s export destinations with a trade value of US$1,7 billion.

While Zimbabwe’s exports to China have historically been dominated by minerals and tobacco, recent trends show an appetite for a wider range of Zimbabwean products.

During the recently held FOCAC, Chinese government committed to implement an EPA with Africa which will see the removal of most duties on exports from 2025 to 2028.

This will provide a leg-up for macadamia growers as they will be able to realise better returns on their exports.

Arts and crafts sector, also hold significant appeal, given the growing appreciation for African art and handmade goods among Chinese consumers.

Processed foods have immense potential, as Chinese consumers become increasingly interested in exotic flavours and healthier food options.

Zimbabwe’s organic and sustainably produced foods might appeal to this market, where demand for high-quality, safe, and natural foods continues to rise.-ebsinessweekl