By Alois Vinga
TRADE promotion agency, ZimTrade has implored locals to diversify from the traditional export markets in preference of new turf as a strategy to counter the impact of global instabilities among other advantages.
The trade promotion agency contends that the many conflicts currently taking place in the world are a clear indication of the need to move from the ordinary, and diversify Zimbabwe’s export markets.
“For a long time, Zimbabwe’s top 3 export destinations have been the same, however, since there has been a conscious drive to diversify our export markets, we have opened up new channels for Zimbabwean products. Such a strategy not only spreads the country’s economic risk but also works to further solidify Zimbabwe’s presence in markets across the world,” said ZimTrade.
The remarks come on the back of plans by the trade promotion agency to redirect focus on new markets guided by the philosophy that countries like the UAE and China have had a great reception to Zimbabwean products, even becoming one of the top three and top five export destinations since last year.
“As such, ZimTrade will continue to explore new markets for Zimbabwean goods, by conducting strategic market surveys taking into consideration the various trade agreements and world opportunities that may arise.
“This year we will hold market scans in Indonesia, Saudi Arabia, and Ethiopia, all of which hold immense potential for Zimbabwean goods,” the agency said.
With the coming of AfCFTA, a trade agreement with a vision to seamlessly trade across Africa, ZimTrade also plans to actively pursue continental markets that have an appetite for our products including Angola and Rwanda.
“Export promotion activities like outward trade missions and business forums will assist in getting local businesses to actively interact with buyers within these markets and successfully trade their products,” added ZimTrade.