adminRoberta Katunga Senior Business Reporter
ZIMTRADE will be co-ordinating the participation of Zimbabwean companies at the Luanda International Trade Fair (Filda) in Angola as the country seeks to re-establish its presence to capture the fast emerging market.ZimTrade chief executive officer, Ms Sithembile Pilime said Zimbabwe last took part at the trade fair in 2003.
This year’s fair will run from 22 to 27 July.
“This is an important opportunity to re-establish our presence in the Angolan market. The Filda last year attracted 60 000 visitors and 1 000 exhibitors which is huge and as ZimTrade we have been working on a market research in Luanda meant to update information on the Angolan market as we continue our drive to foster export markets for the country,” she said.
Ms Pilime said the market research which commenced on 27 April and was set to be concluded last week, was expected to provide specific information on possible export products to consider for the Angolan market, identification of the markets from which the country was importing and the dynamics of demand for some of the products so as to facilitate objective decision making by potential Zimbabwean exporters.
“The research will verify competitiveness of Zimbabwean products in terms of price, quality and transport logistics. The Field Research will also establish the market access requirements and establish synergies with various trade facilitation organisations in Angola to facilitate trade and investment,” she said.
Speaking on the unique opportunities presented by Angola, Ms Pilime said Angola was a fast emerging economy in the continent with a GDP of $130.4 billion and a growth rate of 8,4 percent in 2012.
She said it was a member of the Southern African Development Community (Sadc) with a population of 20,8 million and GDP per capita of $6 500, implying significant consumption capacity.
“This illustrates the business potential in Angola. It has been identified as a net importer of processed food products and other manufactured goods, and given the diversity of Zimbabwean manufactured foodstuffs, it is a market beckoning to be tapped.
Trade between Zimbabwe and Angola is based on the multi-lateral Sadc Trade Agreement, as both countries are signatories to this regional trading bloc,” she said.
From Angola’s imports, Zimbabwe has the potential to export products that include furniture, wood, beverages, poultry and processed meat, tubes and pipes, iron and steel, dairy products, sugar, sweets and biscuits.
Other products include building and construction materials.
According to statistics provided by ZimTrade, the trade balance between Zimbabwe and Angola over a four-year period (2010-2012) was in favour of Angola except for 2011 where there was an improvement in Zimbabwe’s exports to Angola, leading to a positive trade balance of US$7 906 000.
“Zimbabwe has not been exporting to Angola as of 2012-2013 hence ZimTrade therefore seeks to re-establish Zimbabwe’s presence in the Angolan market and rebuild export market confidence, among others,” said ZimTrade.
ZimTrade is looking at exploring and carrying out export promotional activities in the DRC, Tanzania, Kenya, Zambia, Limpopo Province in South Africa and Mozambique markets.
Meanwhile, Ms Pilime said ZimTrade was on alert on the developments taking place in the lucrative South Sudan market.
In 2012 ZimTrade did a market research in South Sudan, Africa’s newest state, where various business opportunities were discovered.
“We have done a research there in South Sudan before this trouble started. There are lot of opportunities in every sector, be it in infrastructure and anything that you can think of. Yes there are challenges now and I am sure as a country they are working on resolving them and we are keeping our eyes open,” she said.
She urged local companies to be on alert on the South Sudan market and consider exploring the area even before the situation fully normalises.
South Sudan gained independence from Sudan on 9 July 2011.
It has investment opportunities in tourism, agriculture, mining, wildlife, forestry and manufacturing.
Zimbabwe is facing challenges in venturing into exports and ZimTrade is on a drive to look for new markets for local companies so that they can sell their goods and bring the much needed foreign currency and improve liquidity, capacity utilisation and create employment.
Online Reporter