City business community meets EU ambassador

Charity Ruzvidzo Business Reporter
THE Bulawayo business community will tomorrow host the European Union (EU) Ambassador Philip Van Damme during a meeting aimed at assessing the perceived risks of doing business in Zimbabwe. The meeting has been organised by the Zimbabwe National Chamber of Commerce (ZNCC). ZNCC Matabeleland regional marketing officer, Velile Dube, said it was their mandate to ensure growth and expansion of businesses.

“We’ve invited the EU Ambassador Philip Van Damme who will brief the captains of industry on the perceived risk of doing business in Zimbabwe. We want to find solutions to how this can be dealt with,” he said.

Dube said the meeting would also focus on how businesses in the region could create linkages with the EU. “Another objective of the meeting is to discuss how businesses in this region can access markets in the EU. Businesses should be able to expand their connections with the international market,” he said.

Dube added that it was ZNCC’s commitment to cultivate incremental partnerships with the EU in areas of trade and dual co-operation.

The meeting will be held at the ZNCC boardroom.

Recently, the country’s export promotion agency, ZimTrade, partnered with the Indian Institute of Foreign Trade in a bid to promote the growth and development of exports.

In the 2015 national budget, Finance and Economic Development Minister Patrick Chinamasa said the country’s external sector position remains under considerable pressure, on the back of subdued export performance, coupled with relatively large absorption of imports.

He said between January and October this year, the country accounted for $2,4 billion in export earnings.

The mining sector, he noted, continues to make a significant contribution to Zimbabwe’s export earnings, accounting for 52 percent.

Agriculture accounts for 21 percent, followed by manufacturing 13 percent and services which include transport and tourism, 11 percent.