‘Trade at centre of sustainable industrial development’

IMPROVING trade and bringing together people from different countries, cultures and regions is pivotal to sustainable industrial development that would lead to the attainment of national and continental development goals.

Industry and Commerce Minister, Nqobizitha Mangaliso Ndlovu, said this yesterday at the 10th CEOs Africa RoundTable meeting in Victoria Falls, which was attended by a diversity of business leaders and other key local and foreign stakeholders.

As Zimbabwe forges ahead with growing its economy and creating new jobs as part of the modernisation and industrialisation agenda, Minister Ndlovu said accelerating the continental economic integration remains the major focus.

“Sustainable industrial development is centred on trade, which brings people from different regions, continents and cultures together. Government’s effort is to develop and implement policies that promote the competitiveness of industry and commerce regionally and globally as we maintain the momentum of re-building our economy,” he said.

Minister Ndlovu said the commitment made by the organisers of the CEOs meeting was reflective of a deep-rooted passion by the business sector to contribute to the country’s socio-economic development and to play a pivotal role in the growth of the African economy.

“This indeed is in sync with the Government’s determination to ensure a sustainable path to economic revival, industrial growth and prosperity,” he said.

Minister Ndlovu said the ultimate goal is to make Zimbabwe a prosperous and empowered upper middle-income society by 2030, which is also in sync with building Africa Agenda 2063, Towards the Africa We want.

The meeting, which ends tomorrow is being held under the theme: “The Future of Africa: Modernise, Reshape and Grow.” President Mnangagwa after delivering his speech, spent time interacting with delegates and responding to questions, a diversion from the usual engagements where he would only read his official speech.

Five Government ministers attended the official opening which is an endorsement of the annual indaba as a platform for meaningful engagement.

There were also partners from the region, particularly from Botswana, Malawi and Zambia as the Roundtable expands into the continent.
Efforts are also underway to bring Rwanda to the table.

Minister Ndlovu was joined by colleagues; Professor Amon Murwira (Higher Education), Dr Frederick Shava (Foreign affairs), Dr Tatenda Mavetera (ICTs) and Matabeleland North Provincial Affairs and Devolution Minister Cde Richard Moyo.

Minister Moyo said the platform was a demonstration of a shared vision among key stakeholders who are determined to ensure that the economy grows through increased modernisation, investment and trade.

“Africa is a key player in the global supply chain for Artificial Intelligence, particularly in the early production stages. Intra-African trade is still very low, signifying that we are a major consumer of finished goods from other continents. Let’s take this opportunity to strengthen partnerships and promote the African Continental Free Trade Area,” he said.

Prof Murwira said in its drive to economic growth and creating wealth, the Second Republic had reverted to heritage-based approach.

“It means we are entering a period of stability and growth. Economic growth means the economy is growing and wealth will be created,” he said.