adminSenior Business Reporter
THE country’s export promotion agency, ZimTrade has invited local companies to participate at the forthcoming Luanda International Trade Fair (FILDA) slated for mid-year in Angola.
FILDA is a multi-sectoral event that showcases consumer and capital goods, agricultural machinery, food, textiles, school supplies and spare parts, among others.
“ZimTrade invites local companies to showcase in Angola. ZimTrade is coordinating the participation of local companies at the forthcoming Luanda International Trade Fair to be held from July 22 to 27.
“The exhibition will be held at the Trade Fair Grounds, Luanda in Angola,” said ZimTrade on its website.
The agency expects at least 10 local companies to participate and showcase their products in various sectors
Last year, 1,000 exhibitors from 35 countries in Africa, the Americas, Europe and Asia participated at the trade fair and showcased their products and services.
A total of 60,000 visitors attended the show to update themselves on innovations and trends in their businesses.
ZimTrade last participated in FILDA in 2003 when a total of 30 companies took part and explored various opportunities that existed in Angola.
The fair is expected to assist Zimbabwe to re-establish it’s presence on the Angolan market and rebuild export market confidence.
The government has expressed concern over the country’s export sector.
Presenting the 2014 national budget last year, Finance and Economic Development Minister Patrick Chinamasa said the total exports for the period January to October 2013 stood at $2,8 billion, this was against $3,2 billion realised during the same period in 2012.
The declining growth in exports is a reflection of the overall slowdown in real economic activities.
In 2014, the growth in exports is hinged on the overall performance of the economy. Exports are forecasted to reach $5,0 billion from $4,430 billion last year. The 1,5 percent growth in exports will rely on access to low costs for intermediate inputs.
Reduction of input tariffs, extension of the preferred economic operator status and implementation of the duty drawback system would also revitalise the export sector growth.
Online Reporter