President lauds exports surge

Nqobile Bhebhe, [email protected]

PRESIDENT Mnangagwa has lauded the country’s productive sector for driving exports of goods and services as a pivotal catalyst for vibrant industrialisation and socio-economic transformation, which buttresses his vision of creating an upper-middle-income economy by 2030.

With official statistics showing that Zimbabwean exports increased to US$4,56 billion in the first eight months from US$4,48 billion in the comparable period last year, the President has expressed excitement that, despite sanctions imposed on the country since the turn of the millennium, Zimbabweans were turning the prevailing challenges into opportunities.

He hopes that the resurgent jump in domestic production in response to proactive policy measures under the Second Republic, will propel Zimbabwe into a global economy that not only meets its needs but strongly influences the global marketplace.

Officially opening the ZimTrade Annual Exporters Conference at the Zimbabwe International Exhibition Centre (ZIEC) in Bulawayo yesterday, President Mnangagwa said the export growth trajectory was a testament to the country’s industrial resilience, and determination to attain the envisioned economic growth and prosperity.

He said the transformative journey, which is anchored on the adoption of modern innovation and technology to enhance quality standards and achieve global competitiveness, must inspire local exporters to remain steadfast in commitment to advance trade gains on the regional, continental, and global stage.

“I recognise and commend ZimTrade’s efforts to increase exports through the clustering of key sectors. The approach has resulted in Zimbabwean companies entering and expanding in both traditional and non-traditional markets,” said President Mnangagwa.

“Our exports have increased to US$4,56 billion during the period January to August 2024 up 1, 8 percent from the US$4,48 billion recorded during the same period last year.”
He said growth milestones benefited more from gains in horticulture, in particular, and value-added exports, which increased by 5,2 percent and 2,3 percent respectively.

“This is testament to the resilience, determination, and unwavering commitment by our people, yourselves to attain the vision, economic growth, and prosperity we deserve as a country,” said the President.
“Let us remain steadfast in our commitment and continue on the course to advance our trade potential on the regional, continental, and global stage.”

This year’s ZimTrade Exporters Conference runs under the theme: “Qala, Tanga, Start,” and draws attention to the need for aggressive inclusivity in exporting while growing the economy.
As such, President Mnangagwa said exporters should now move with speed to diversify and improve their product portfolio to remain relevant and competitive in line with the level of global technological advancement.

He, however, quickly pointed out that achieving these and other benchmarks must be guided by sound research and development. In this regard, the President said the Second Republic has deliberately established innovation hubs at all State universities to create a platform that fosters and supports innovation, entrepreneurship, and technological advancement across the country.

“These have the potential to help enhance the quality of our exports by improving our production, particularly in agriculture, manufacturing, and service delivery.
“Furthermore, technological advancement and knowledge transfer from continuous improvement and innovation have a transformative effect, which enhances productivity, efficiency, and competitiveness,” said the President.

“As you do so, be mindful of the need to ensure that you are able to fully cater to the demand of your products and services, that way guaranteeing that there are no stock-outs.”

He said the theme for this year’s conference, “Qala, Tanga, Start,” was a timely call to action for local industries, which are not yet exporting to get started.

“Make bold decisions and seize the numerous opportunities offered by global markets. I further urge you to explore international trade opportunities and foster new connections between Zimbabwean businesses and the global markets,” said President Mnangagwa.

“This must in turn foster inclusivity in growing exports from across all provinces of the country and help shift mindsets as we move to accelerate the attainment of Vision 2030.”
He further urged exporters to take full advantage of the investment opportunities offered by countries where Zimbabwe has a diplomatic presence to secure export footprint as well as exploit potential synergies. You are all encouraged to push boundaries of what is possible by innovating and embracing the opportunities that lie ahead. Our beloved motherland, Zimbabwe, must continue to realise the notable success milestones,” said President Mnangagwa.

“Together we can turn challenges into opportunities and ensure that Zimbabwe not only meets but exceeds its potential in the global marketplace.”
President Mnangagwa also reaffirmed the Government’s commitment to the principles of openness, fairness, and mutual benefit in trade relations.

“Let us harness the power of trade as a force for driving economic growth, fostering social development, as well as building bridges of peace and understanding between nations.
“Together, we can write a chapter in Zimbabwe’s history, one that is defined by resilience and shared prosperity.”