‘Sadc chairmanship boon for business’

Herald Reporter

Zimbabwe’s chairmanship of the Southern African Development Community (Sadc) presents a prime opportunity for local businesses to influence the regional economic agenda, and realise positive trade and investment spin-offs from the wider African Continental Free Trade Area (AfCFTA), President Mnangagwa has said.

Delivering the keynote address at the ZimTrade Annual Exporters Conference at the Zimbabwe International Exhibition Centre (ZIEC) in Bulawayo yesterday, the President said being at the helm of the regional bloc was a critical moment for the country to lead the way and harness the immense trade opportunities.

President Mnangagwa assumed the chairmanship of the 16-member bloc in August this year when the country successfully hosted the 44th SADC Heads of States and Government Summit in Harare.

The summit was held under the theme: “Promoting innovation to unlock opportunities for sustained economic growth and development towards an Industrialised Sadc,” which recognised innovation as a fundamental instrument with potential to drive priority sectors of manufacturing, mineral beneficiation and agro-processing to enhance industrialisation and economic growth of the region.

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“Zimbabwe’s recent assumption of the chairmanship of the Southern African Development Community (Sadc) is a significant milestone for us, with regards to regional integration efforts and also provides us with a strategic platform to advance business coordination within the regional trade bloc,” said the President amid applause from the large delegation of exporters and buyers.

“Our chairmanship of the regional bloc comes at a critical time when the African Continental Free Trade Area agreement is taking shape.

“This new continental framework presents us with opportunities to actively shape the future of our regional trade, while also ensuring that businesses benefit from increased access to regional markets.”

President Mnangagwa

He said the AfCFTA was a game-changer for intra-African trade, hence Zimbabweans should position themselves “to capitalise on this opportunity”.

The historic AfCFTA is an African Union Agenda 2063 flagship initiative that creates a single huge integrated market of about 1,3 billion people with a combined Gross Domestic Product of approximately US$3,4 trillion.

The AfCFTA deal was operationalised in January 2021 to streamline customs procedures, reduce bureaucracy, and harmonise technical standards to ease the movement of goods across the continent’s borders.

Zimbabwe is a signatory to the treaty that aims to eliminate tariffs on 90 percent of goods traded between member states over a 10-year period.

The objective is to foster regional economic integration and boost intra-African trade by 53 percent by next year with the potential to create up to 30 million jobs and lift 30 million people out of poverty.

Meanwhile, President Mnangagwa also rallied exporters to participate in the upcoming Expo 2025 Osaka in Japan.

“As we prepare for Expo 2025 Osaka, I invite you all to fully participate in the activities leading up to and during this important global expo,” he said.

“Your support will ensure that we are able to showcase our vibrant culture, innovations, and the vast potential of our industries and products in a way that positions Zimbabwe as a dynamic and competitive player on the global stage. Let us work together to make this a resounding success.”

Zimbabwe will participate at the Expo 2025 Osaka under the “Connecting Lives Zone” segment and will exhibit under the national theme: “Beyond the Limit.”

Expo 2025 Osaka presents an unparalleled opportunity for Zimbabwe to showcase its cultural heritage, economic potential, and investment opportunities on an international stage.

Buyers and Exporters attend the Exporters conference during the official opening in Bulawayo yesterday

President Mnangagwa receive a book from Founder and Chairman of Brand Africa Mr Thebe Ikalafeng at the official opening of the Exporter conference at the Zimbabwe International Exhibition Centre in Bulawayo yesterday. Picture Eliah Saushoma