ZimTrade brings good tidings from Kigali hunt

by | Apr 29, 2021 | Business, International, Local News | 0 comments

Brian Rungano Temba

Zimbabwe trade and investment promotion body, ZimTrade has sent back a positive update from their market survey detailing the possible business opportunities for Zimbabwean companies in Rwanda.

The national trade development and promotion organisation reported back that though there is a strong policy framework in Rwanda their industrial sector is still small.

” This presents opportunities for Zimbabwean businesses in Rwanda in areas such as agriculture, health, education, manufacturing, pharmaceutical, ICT, packaging, clothing and textile, construction, engineering and tourism,” said Zimtrade in a press release today.

The survey, which is still ongoing will focus on processed foods, pharmaceuticals, clothing, construction, horticulture, leather and leather products, agriculture inputs and implements, and services sectors.

Speaking on the contribution of the survey to national export development, ZimTrade Chief Executive Officer, Allan Majuru, said access to critical market intelligence will make it easy for the country to grow its exports.

“What is most important as countries grow beyond Zimbabwean boarders is that they have access to reliable information, which will make it easy to create new markets for Zimbabwean products.

“These activities and market choices are driven by the National Export Strategy launched by President Mnangagwa in 2019, whose target is to grow Zimbabwean exports to US$7 billion by 2023 and US$14 billion in 2030,” said Majuru.

The survey follows the resolution to intensify cooperation between Rwanda and Zimbabwe that saw several Memoranda of Understanding signed in March this year to cement bilateral relations at inaugural virtual session of the Joint Permanent Commission on Cooperation (JPCC).

The signed agreements include the Rwanda Development Board and ZimTrade cooperation whose objective is to promote mutually beneficial trade between the two countries.

Other agreements signed in March cover General Cooperation Agreement on the Establishment of a JPCC, Diplomatic consultations, cooperation in the Field of Media, Information and Publicity, collaboration in legal and criminal matters.

” To unlock opportunities presented by some of these agreements, the ongoing market survey will identify sector specific opportunities, compliance needs as well as route to market that will help Zimbabwean companies land in Rwanda with ease, ” read the press release by ZimTrade.

Zimbabwe continues to explore opportunities presented by the African Continental Free Trade Area (AfCFTA).