adminBrighton Gumbo Business Reporter
ZIMBABWE is set to play host to a business delegation from Mozambique next month under the “Inward Buyer Mission” as part of measures to boost trade relations between the two neighbouring countries.
The Inward Buyer Mission is being organised by the national export promotion agency, ZimTrade.
ZimTrade public relations officer Dillon Kamutenga said the business mission that would see a delegation from 12 companies in Mozambique visiting the country, was slated for November 3 to 6.
He said the business delegation comprises buyers with keen interest in procuring local products from different sectors of the economy.
“The delegation will comprise buyers interested in sourcing products from Zimbabwean suppliers of mining consumables, protective clothing, building and construction materials; automotive and engineering products. The other products likely to attract the delegation are fast moving consumer goods such as dairy products, fruit and vegetables among others,” said Kamutenga.
He said the four-day business mission would start with a half-day Trade and Investment Seminar on November 3 followed by Business to Business meetings.
“The mission is an integral part of ZimTrade’s efforts to continue to grow trade between Zimbabwe and Mozambique,” Kamutenga said.
Between 2012 and 2014 total trade between the two countries increased by 64 percent from $443 million to $725 million.
“According to Trademap, Zimbabwe enjoys a positive trade balance, which has increased from $123 million in 2012 to $429 million in 2014.”
Kamutenga said Mozambique was a lucrative market whose logistical proximity presents comparative advantages for local companies.
“Generally, all sectors of the manufacturing sector have potential to export to Mozambique, which is among the fastest growing economies in sub-Saharan Africa with an average annual real Gross Domestic Product growth rate of 8 percent,” he said.
Zimbabwe and Mozambique are both Sadc member states and qualifying products enjoy duty free entry into either country.
The two countries also have a bilateral trade agreement, which gives duty concessions to qualifying products.
Online Reporter