Chronicle Editor
Pride Mahlangu, Business Reporter
THE national trade development and export promotion agency, ZimTrade, has urged exporting businesses to utilise the potential export map to access information that will enable them to tap into opportunities that are available in different markets.
In its latest monthly update, ZimTrade said trade map data was offered free of charge for developing countries and turns economic analysis into practical trade information using the International Trade Centre (ITC) export potential and diversification assessment methodology.
“Running a successful export business involves being able to tap into opportunities that are available in different markets. Most exporters find it hard to get this information because of lack of knowledge on where to access it,” said ZimTrade.
“This all changes with the knowledge of the export market potential map, a tool that provides information on market trends around the world.
“While developed countries are required to pay a subscription fee, developing countries, like Zimbabwe, can access the website for free, a great advantage for the exporting community or businesses who look to export in future.”
The export agency said the tool provides timely and practical information on products, markets, and suppliers with untapped potential as well as prioritising new sectors with favourable chances for success in export diversification.
“The export potential map enables organisations to plan and forecast for their products for supply into selected export markets. It also allows organisations to identify products, markets and suppliers with untapped export potential,” said the export agency.
The trade map portal contains information on more thanr 4 000 products providing an opening for export diversification.
The export potential indicator provides an algorithm for existing export products that can access information based on historical data and export performance.
“Exporters can enjoy a unique ranking of untapped opportunities with guidelines on how to close gaps in the export market by evaluating export performance, the target market’s demand, tariff conditions and bilateral links between the exporting country and target market,” said Zimtrade. — @pridesinstinctz.
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