Online Reporter
Africa Moyo
LOCAL businesses are set to gain access to a regional market worth about US$1 trillion when the country assumes the chairmanship of the Common Market for Eastern and Southern Africa (COMESA) next month, opening fresh opportunities for exports, investment and strategic partnerships.
The opportunities will come into sharper focus when Harare hosts the 19th COMESA Business Forum and Multi-Sectoral International Exhibition from October 19 to 21 on the sidelines of the 25th COMESA Heads of State and Government Summit.
Foreign Affairs and International Trade Minister Professor Amon Murwira and Zimbabwe’s premier trade promotion body, ZimTrade, have indicated that preparations for both the business conference and the exhibition are “at an advanced stage”.
For local companies, the business forum is expected to provide direct access to regional buyers, investors, financiers and policymakers from across a bloc of more than 640 million consumers, creating a platform to secure new markets, attract capital and integrate into regional value chains.
Presently, Zimbabwe serves as COMESA vice chairman and is set to assume the chairmanship of the 21-member regional economic bloc for the 2026-2027 term in October, placing the country at the centre of efforts to drive trade, industrialisation and economic integration across Eastern and Southern Africa.
The event comes at a time when the country is positioning itself to leverage regional integration to accelerate industrialisation, expand exports and create jobs, in line with Vision 2030.
The COMESA Business Forum, being organised by the COMESA Business Council, ZimTrade and the Zimbabwe National Chamber of Commerce, in partnership with the COMESA Secretariat and the Government, will run under the theme “One market, one future: Advancing inclusive industrialisation, investment and regional integration in COMESA”.
The forum is expected to bring together business leaders, financial institutions, development partners, government representatives and investors from across the region.
More than 1 000 delegates are expected to attend the various meetings leading up to the Heads of State and Government Summit.
For local exporters and manufacturers, the COMESA Business Forum is expected to serve as a gateway to new export markets and investment opportunities.
New markets, partnerships and opportunities
ZimTrade’s trade intelligence officer Ms Kudzai Magwenzi said the forum would significantly benefit local companies.
She said the gathering would help local firms identify new markets, establish strategic partnerships and explore opportunities to participate in regional value chains.
While COMESA remains one of Africa’s largest trading blocs, intra-regional trade still falls short of its full potential.
Many member states continue to export raw materials and import finished products, a trend that regional leaders are seeking to reverse through industrialisation, value addition and stronger regional production networks.
The Harare forum is, therefore, expected to focus heavily on strengthening regional value chains, improving productive capacity and encouraging businesses to move beyond primary commodity exports.
For Zimbabwe, whose economic strategy places strong emphasis on value addition and beneficiation, the discussions are expected to align closely with national development priorities. Ms Magwenzi said local businesses should take advantage of the platform to position themselves as suppliers of value-added products capable of serving regional and international markets.
The forum will also focus on reducing barriers to trade and improving the efficiency of trade corridors.
Participants will discuss measures to strengthen regional trade systems, improve access to finance and reduce investment risks.
A dedicated session will provide information on financing instruments available through regional institutions such as the Trade and Development Bank and Afreximbank.
Access to finance remains one of the major challenges facing many African businesses, particularly small and medium enterprises seeking to expand into export markets.
By bringing financiers and businesses together under one roof, the organisers hope to bridge the gap between promising enterprises and the capital required for growth.
Running alongside the forum will be the Multi-Sectoral International Exhibition, which will feature country pavilions, a COMESA institutions pavilion and structured networking platforms.
Priority sectors include manufacturing, agriculture and agro-processing, mining, energy, financial services, fintech, the digital economy, textiles, leather products, tourism and hospitality. The exhibition will provide Zimbabwean companies with a platform to showcase products and services while engaging potential buyers and partners from across the region.
For many firms, the event offers an opportunity to establish relationships that could take years to build through conventional market-entry approaches.
Influencing regional policy
The business forum will also produce a private sector communiqué containing recommendations from business leaders for presentation to the COMESA Heads of State and Government Summit.
This will allow the private sector to influence regional policy discussions on trade, investment and industrial development.
Meanwhile, Prof Murwira has revealed that as preparations for the COMESA Summit intensify, a committee led by his ministry has been set up to coordinate preparations.
He said in terms of infrastructure, not much would be done, with the authorities largely focused on refinements of what was developed and upgraded when the country hosted the SADC Summit in 2024.
“We have a committee that is looking at that and the Permanent Secretary (Foreign Affairs) and his team, they are busy with the preparations,” said Prof Murwira.
Before the Heads of State and Government Summit on October 22, there will be a meeting of officials and then the Council of Ministers.
Prof Murwira says Zimbabwe’s tenure as COMESA chairperson would be guided by the broader objective of deepening African economic integration.
