Vusumuzi Dube
Judith Phiri, Business Reporter
ZIMBABWEAN products are set to record increased growth to China as demand for local products is on an upward trend in the market, ZimTrade has said.
According to the country’s trade development and promotion agency, the participation of Zimbabwe at the 6th China International Import Expo (CIIE), that was held in Shanghai, China from the 5 to 10 November exposed the demand, which is set to boost the country’s exports to Asia when local companies start to meet order requirements. The Expo was ran under the theme “New Era, Shared Future.”
In its latest newsletter, ZimTrade said: “The participation of Zimbabwe was led by the Office of President and Cabinet, and drew participants of local institutions and private sector players. The of the Expo theme mirrors China’s dedication to promoting global trade.”
The agency said participating companies under the ZimTrade umbrella were drawn from processed foods, leather and arts and crafts and crafts sectors.
While, Zimbabwe’s country exhibition ran under the theme “Visit, Trade and Invest” embracing all the facets of Zimbabwe’s reengagement efforts.
“Results from engagements at the fair indicate huge potential for Zimbabwean companies to perform well in the Chinese market. The expo has been critical in championing economic diplomatic relations with the global powerhouse, and results from the expo shows that local exhibitors also benefited from knowledge transfer, which is expected to go a long way in developing competitive Zimbabwean products,” added ZimTrade.
It said indigenous Zimbabwean essentials such as moringa, baobab and mongongo oil attracted traction to the Zimbabwean pavilion.
While, Zimbabwe’s exotic leather products also attracted visitors to the stand indicative of the readiness of the market to accept value added leather products from Zimbabwe.
The agency said on display were elephant, zebra, and crocodile leather products, and the arts and crafts exhibitors also took their best to market, and they were recommended to consolidate orders so that they could gain economies of scale advantage.
ZimTrade added: “The sector was also advised to improve access to the market through the use of e-commerce channels such as TaoBao. The advent of e-commerce has given opportunities for small to medium businesses to participate and survive global value chains.”
With the world’s largest population, China is currently the world’s second importing largest economy, having recorded US$2,7 trillion worth of exports for the year ending December 2022.
China’s major imports include equipment, iron and steel, wood, pharmaceutical products, and cereals.
The agency said of this import figure, Zimbabwe has grown its share to US$1,3 billion in 2022, thanks to the economic diplomacy agenda being spearheaded by President Mnangagwa’s Second Republic.
China’s major imports from Zimbabwe include minerals, tobacco, iron and steel, citrus fruits, raw hides wood and cotton.
Since its inception in 2018, the CIIE has become a significant platform for promoting global trade and facilitating international cooperation.
The CIIE is organised by the Ministry of Commerce of the People’s Republic of China and the Shanghai Municipal People’s Government.
It is designed as a comprehensive platform to showcase products and services from around the world, promote bilateral trade, and foster economic globalisation.
The expo featured various exhibition areas, including trade in food and agricultural products, consumer goods, services, automobiles, equipment, technology, and healthcare.
Sidumisile Mabena