admin
the investment opportunities in Zimbabwe to expand their business partnerships with local companies, South African Deputy Minister of Trade and Industry Ms Elizabeth Thabethe said yesterday.
Speaking during the official opening of the South African exhibition stands in Hall Four, Ms Thabethe said Zimbabwe had a huge potential to achieve significant economic growth and urged local companies to network with their regional and international counterparts to boost their businesses.
She said the acclaimed international trade showcase was an embodiment of the good external relations Zimbabwe had with its neighbours and partners across the globe.
“We take note of the investment opportunities that are in Zimbabwe in various economic sectors such as mining and tourism. This shows that we have the potential to expand regional business and trade. There is a need to increase regional integration and creation of synergies that will see us achieve meaningful socio-economic development,” said Ms Thabethe.
“As South Africa our economy is inextricably linked with other countries and Zimbabwe is a strategic development partner and market. Our companies should take advantage of the opportunities in Zimbabwe.”
Ms Thabethe applauded the recently launched Zimbabwe Industrial and Trade Policies saying the documents were a sign that the country was gearing itself for improved economic performance in the Sadc region and beyond.
She said her country would support Zimbabwe at all levels.
“Africa has been affected by the global economic crisis that has seen a decline in Foreign Direct Investment since 2009 onwards. This calls for concerted African regional integration and value addition to our businesses. As South Africa we will complement Zimbabwe and play our role in improving business growth.
“We have signed a lot of deals with Zimbabwe and we are elated to take part in this trade showcase. We will bring even more exhibitors in the coming trade fair,” said Ms Thabethe.
She paid tribute to Zimbabweans for celebrating the 32nd Independence Day event and said the trade fair was a crowning moment of the gains of the liberation struggle.
Speaking at the same occasion South African Ambassador to Zimbabwe Vusi Mavimbela said the presence of regional and international exhibitors was an indicator that Zimbabwe was a good investment destination.
He said this year’s theme, “Investing locally, reaping globally” was befitting as it underscored the need for integrated business approaches and partnership with players in the region and beyond.
Ambassador Mavimbela said Zimbabwe was renowned for producing skilled labour and said the country should take advantage of that to boost its economy.
“Zimbabwe is so advanced in terms of education if not the leader. There is a need to integrate these skills towards economic growth of the country and the region,” he said.
“Africa has its own significance in that it is the fast growing continent in terms of population with over one billion people. Regional and global integration would allow us to outpace other competitors in terms of development.”
ZITF general manager Mr Daniel Chigaru paid tribute to the South African government and its companies for being consistent in participating at the ZITF.
“We are very grateful for the efforts to improve cordial relations between the two countries. We have received a lot of support from South African companies even in terms of material support.
“The standard of exhibitions in all their stands has also been high. We hope to get resounding results in 2012 and in the future,” said Mr Chigaru.
South African companies have taken 32 stands at the ZITF where 470 exhibitors and 37 foreign companies are taking part.
According to figures from the ZITF Company, 98 percent of the exhibition space has been taken up.
The trade fair will be officially opened by Zambian President Michael Sata on Friday.
Online Reporter