The Sunday News
TRADE promotion body ZimTrade is mobilising local companies to exhibit at the 88th Zambia Agricultural and Commercial Show that will be held in Lusaka to increase their presence in the neighbouring country to close the trade deficit gap between the two countries.
The show will be held in Lusaka from 30 July to 4 August under the theme “Breaking New Ground and Commemorating Zambia’s 50 Years of Independence.”
Between 2011 and 2013 trade balance between the two countries has been in favour of Zambia.
In 2011 the trade imbalance between the two countries was $132 million rising to more than $394 million and then going down to more than $146 million last year after a 35 percent increase in Zimbabwe exports to Zambia.
In a statement, ZimTrade said the show would give an opportunity to Zimbabwean companies to explore the Zambian market taking advantage of trade arrangements that exist between the countries.
Both countries are members of Sadc and Comesa trading blocs that have a number of incentives for exporters.
“ The show willl focus on the latest developments in the commercial and agricultural fields including, but not limited to financial aspects, Information Communication Technology, machinery, animal production, fish farming, veterinary and food industries, education, cultural exchange, investment opportunities as well as business deals.
Last year, about 1000 Zambian and foreign companies participated in the show. Of these, 80 companies represented 18 countries,” said ZimTrade.
Some of the products local companies have been exporting to Zambia include fertilisers, coal, packaging material, tobacco, fish, wood, furniture and tea.
ZimTrade said the Zambian market had opportunities in processed foods, mining equipment and supplies, household and electrical goods, hardware, building and construction materials and agricultural equipment and supplies.
Over the years a number of Zimbabwean companies have taken part in Zambian exhibitions to boost exports.
Zambian companies have also taken part in Zimbabwean exhibitions such as the Zimbabwe International Trade Fair.
Economists say Zambia was emerging as a potential market because of its growing appetite for a number of goods.
South Africa, Zimbabwe’s biggest trading partner, has a developed industry making it difficult for Zimbabwean products to break into that market.
