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THE country’s trade development and promotion organisation, ZimTrade, will tomorrow host an export awareness seminar in Bulawayo to assist local business on understanding trade agreements and how to exploit them.
More than 20 companies including small to medium enterprises are expected to attend the meeting.
Regional ZimTrade office manager Mr Similo Nkala said the seminar seeks to create awareness and understanding of the various trade agreements which Zimbabwe is signatory to and how exporters can benefit from them.
“It’s imperative that local companies are fully aware of the various trade agreements available and the registration process as well as the benefits of being registered,” he told Business Chronicle.
“The purpose of trade agreements is to stimulate trade between the signatory countries. This results in specific products being accorded preferential treatment on entry into the importing country.
“Preferential treatment means that the products will attract reduced or no customs duties in the importing country. Therefore, the exported products become competitive.”
Zimbabwe is currently benefiting from Bilateral Trade Agreements with Namibia, Malawi, Mozambique, Botswana and South Africa as well as the regional trade agreements such as the Sadc Trade Protocol and Comesa Free Trade Area.
The country is also a member of the East and Southern African- European Union (ESA-EU) interim Economic Partnership Agreement, which provides preferential access for our exports to the European Union.
“The seminar presents an opportunity for companies to understand the specific rules of origin for each trade agreement and the export products which are eligible for preferential treatment in duty payment,” said Nkala.
Online Reporter