Chronicle Editor
LOCAL companies should now focus on improving product competitiveness to regain market share in the European Union (EU) taking advantage of the 10 million Euro funding facility availed to the country by the bloc.
According to ZBC News, this was said by the ZimTrade chief executive officer Mr Allan Majuru on Wednesday following the unveiling of Zimbabwe Economic Partnership Agreement Support Projects meant to revive the country’s exports to the EU.
“It is a good facility but it can only yield positive results by focusing on increased output,” he was quoted as saying.
Zimbabwe’s re-engagement efforts with the international community continue to bear fruit, as the frosty relations between the country and the global village are thawing and the availing of the facility is testimony to the continued success of the new dispensation’s re-engagement drive.
The Second Republic under the leadership of President Mnangagwa came into place in November 2017 and since then, has embarked on an international re-engagement effort to improve relations as the country has been isolated after the implementation of the successful Land Reform Programme in 2000.
As a result of the Land Reform programme, Zimbabwe was also slapped with the illegal economic sanctions which have brought untold suffering to the ordinary Zimbabweans for close to two decades.
The new dispensation has also embarked on economic reforms declaring that “Zimbabwe is open for business” with a view to attracting investments from across the world.
The EU Ambassador to Zimbabwe Mr Timo Olkkonen was also quoted as saying the regional trading bloc was ready to improve trade relations with the country.
“We stand by our way of reinforcing ties to the extent that the facility bears testimony of increased relations,” he said.
Foreign Affairs and International Trade Deputy Minister David Musabayana highlighted that Government is focusing on re-engagement with the rest of the world on trade and economic ties.
“We stand by our set targets to improve trade ties with all those who are interested on such aspects,” he said.
The economic partnership agreement was also aimed at addressing challenges that resulted in firms or exporters failing to access the EU markets. — ZBC News/Business Chronicle.
Online Reporter