Private sector urged to exploit opportunities at b...

Private sector urged to exploit opportunities at business forum in China this May

Zimbabwe-Business Forum to be held in China at the end of the month will provide a platform to develop markets, the Foreign Affairs Minister has said.

“The President has been clear that we need to establish viable networks that will ensure Zimbabwean products find a place in existing and new markets. We are expecting, therefore, to see improved exports of our value-added products into China through the business links that will be established at the business forum,” Foreign Affairs and International Trade minister Ambassador Frederick Shava.

The forum will is set for May 30 – June 1 and is being run by ZimTrade to improve the visibility of Zimbabwean products in the Asian region.

“We have witnessed an increase in Zimbabwe’s exports to China over the past few years, indicating more local products could find a market in the Asian country,” said Minister Shava.

He said private players need to be proactive in exploiting the opportunities that his ministry is creating:

“The Zimbabwe-China Business Forum as a platform has been created to further the interests of the private sector so that they tap into vast opportunities available in China. What is important is for local industry to leverage on this opportunity to create partnerships that will help drive their exports into China and its neighbouring countries that are currently difficult to reach,” said Minister Shava

The Forum is set to draw public and private representation from across diverse sectors including mining, energy, manufacturing, leather, technology, agriculture, processed foods, clothing and textile, packaging, building and construction, and engineering services

Chinese importers and distributors of goods and services, exporters of industrial machinery and technology, safari operators, project financiers, project managers, infrastructure development companies, and renewable energy suppliers are also set to be looking at Zimbabwean businesses that they can work with.

China Zimbabwe trade had been steadily building over the past few years with Zimbabwe exports hitting over US$1.3 billion in 2022. Zimbabwe mostly exports agriculture products to China. Chinese investment into local industry have boosted Zimbabwe’s exports into the region and other destinations as well as reduce importation bills on goods like building hardware materials, shoes, crockery, plastics, detergents, cosmetics and blankets which are now produced locally at acceptable standards in bulk and at competitive pricing.