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A business delegation from Mozambique, comprising 12 firms, will participate in an Inward Buyer Mission being organised by ZimTrade from November 3-6 2015. The delegation will comprise buyers interested in sourcing products from Zimbabwean suppliers in the following sectors: mining consumables; protective clothing; building and construction; automotive; engineering products and services; fast moving consumer goods such as dairy products, fruit and vegetables.
The four-day mission will commence with a half-day Trade and Investment Seminar to be held on November 3, 2015, and will be followed by B2B meetings. The Mission is an integral part of ZimTrade’s efforts to continue to grow trade between Zimbabwe and Mozambique. Since 2012, total trade between the two countries has increased by 64 percent from $443 million to $725 million in 2014.
According to Trademap, Zimbabwe enjoys a positive trade balance, which has increased from $123 million in 2012 to $429 million in 2014. Mozambique is a lucrative market whose logistical proximity presents tangible 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 GDP growth rate of 8 percent. Zimbabwe and Mozambique are both members of the Southern African Development Community (SADC) and qualifying products enjoy duty free entry into either country. Additionally, the two countries have an operational bilateral trade agreement, which also gives duty concessions to qualifying products.
Online Reporter