tawandamusarurwa
Online Reporter
Local firms should leverage on preferential trade agreements negotiated by Government to grow their footprint in export markets, the national trade development and promotion body, ZimTrade, has said.
“Zimbabwean companies looking to grow their exports should take advantage of preferential trade agreements as a marketing strategy to give their products a competitive price incentive to current and potential customers,” said ZimTrade in a new communique.
“Small businesses can further benefit from the Common Market for Eastern and Southern Africa Simplified Trade Regime (Comesa STR), which is operational in Malawi, Zambia and Zimbabwe.
“Comesa STR targets small-scale traders importing or exporting goods worth US$2 000 or less, which are on the common list of eligible products negotiated and agreed by the participating countries.”
Preferential trade agreements have become a popular instrument for countries intent on promoting economic growth and improving profitability.
Taking advantage of these agreements provides opportunities for local businesses to diversify their exports and tap into new markets.
Economist and trade expert Mr Doubt Chiorora said simplified trade processes can lead to cost savings, increased efficiency and improved competitiveness.
“These trade agreements commonly address non-tariff barriers and streamline trade procedures,” he said.
“They may include provisions to simplify customs procedures, reduce administrative burdens and harmonise regulations, making it easier for businesses to engage in cross-border trade.”
Online Reporter