The Sunday News
Judith Phiri, Business Reporter
Government has called upon the private sector to come out in their numbers and take the opportunity to participate at the Intra-African Trade Fair (IATF) 2021 in South Africa so as to forge business deals.
Officially launching Zimbabwe’s participation at the second IATF to be held from 15 to 21 November 2021 in Durban, South Africa, the Minister of Foreign Affairs and International Trade, Ambassador Dr Fredrick Shava in a speech read on his behalf by his Deputy, Dr David Musabayana said the trade showcase was a mega event for Africa.
“I wish to applaud ZimTrade for adopting an inclusive approach as they coordinate Zimbabwe’s participation at the premier event to ensure maximum participation by all stakeholders. The IATF is a mega event for Africa as it brings together all the 55 African countries with a combined population of more than 1,2 billion people and a combined Gross Domestic Product of US$2,5 trillion making it the largest Free Trade Area created since the formation of the World Trade Organisation (WTO),” said Minister Shava.
He said Zimbabwe successfully participated at the inaugural IATF that was held in Cairo, Egypt in 2018 where investment deals worth US$32 billion were concluded and more than 1000 exhibitors and 2 500 conference delegates from over 45 countries participated.
The Minister said it was key for Zimbabwean businesses to attend as discussions for the conference will highlight regional and global value chains, entrepreneurship innovation, the fourth industrial revolution and sector specific sessions covering agriculture, pharmaceuticals, tourism public- private partnerships and the creative industries among others.
“This is the most opportune time for Zimbabwe to proudly showcase her trade and Investment opportunities to the rest of Africa and beyond. The 2021 IATF will be held under the theme ‘building bridges for a successful AfCFTA’ and will focus on the newly launched African Continental Free Trade Area (AfCFTA),” he said.
Minister Shava said that for Zimbabwe to reap maximum benefits from the AfCTFA there was need to come up with measures and strategies to increase exports of Zimbabwean products into the continent.
The Minister said the National Trade Policy (NTP) and Export Strategy contains strategies were there to help Zimbabwe grow its total exports by at least 10 percent annually and places emphasis of exports of valued added goods and services.
ZimTrade chief executive officer (CEO) and IATF country Ambassador, Mr Allan Majuru said they were leading the development of the Zimbabwe Pavilion at the high-profile event with more than 30 local companies showcasing their products and services at the event.
Mr Majuru said Zimbabwean companies will be exhibiting under the Zimbabwe Pavillion focusing on trade, investment and tourism opportunities.
“Considering the impact of exports on the economy, the IATF holds great potential to accelerate Zimbabwe’s implementation and achievement of both the National Development Strategy 1 and the Sustainable Development Goals (SDGs) through increased trade and the resultant increases in foreign currency generation, improved livelihoods and economic growth,” saidd Mr Majuru.
