NATIONAL trade development and promotion organisation, ZimTrade, will be facilitating the participation of over 25 local companies at the Zambia Agricultural Commercial Show (ZACS) in Lusaka from July 31 to August 5, 2024, NewsDay Business can report.
ZACS is a multi-sectoral trade fair which provides a platform for companies to exchange information, showcase farming and industrial technologies and conduct business-to-business meetings with potential buyers from the region and beyond.
It will be held under the theme, Creating a Competitive Future.
"The Zambian market offers a distinct advantage," ZimTrade chief executive officer Allan Majuru said in a statement.
"Through continued engagement, familiarity with the high quality of Zimbabwean products has grown among Zambian buyers and consumers. This presents a valuable opportunity for local companies to not only introduce new products, but also expand exports of existing offerings."
ZimTrade said export ready companies (large and small and medium enterprises) will be participating from various sectors, including manufacturing and supply of agricultural inputs and implements, fast-moving consumer goods, services, industrial, mining machinery and equipment.
“ZimTrade has consistently been attending the trade fair annually where Zimbabwean products have been praised by local consumers and buyers,” the statement read in part.
“Local companies have managed to establish fruitful distribution partnerships while others have even managed to open establishments within Zambia creating sustainable trade between the two countries.”
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Data from Trades Map shows a significant increase in Zimbabwe's exports to Zambia.
Exports grew to US$142,36 million last year, up from US$58,35 million in 2017.
Recognising this potential, ZimTrade, under the guidance of the Ministry of Foreign Affairs and International Trade, is actively pursuing initiatives to capitalise on this positive trend.
This includes a recent memorandum of understanding signed with their Zambian counterpart in March 2024 at the 8th session of the Zimbabwe — Zambia Joint Permanent Commission on Cooperation to facilitate trade opportunities between Zimbabwean and Zambian businesses.
Building on this momentum, ZimTrade has facilitated local firms participation in key events in Zambia, including the Zambia Agritex Fair and the upcoming ZACS.
Additionally, a buyer delegation visit from Zambia is planned before year-end, allowing for direct interaction with Zimbabwean companies.
ZimTrade noted that Zimbabwe has an added advantage of proximity to the Zambian market, making it easier for local companies to increase trade.
Zimbabwe and Zambia share four border posts and the Chirundu Border post is the first one-stop border post that was launched in 2009, through a bilateral agreement. Additionally, plans are also in place to establish a one-stop border post at the Victoria Falls/Livingstone border so as to facilitate trade.
Zimbabwe and Zambia are members of established trading blocs such as the Southern African Development Community (Sadc) and the Common Market for Eastern and Southern Africa (Comesa).
These blocs facilitate trade between member states by promoting the free movement of goods and services, with the ultimate goal of eliminating tariffs and non-tariff barriers
This presents a significant advantage for Zimbabwean manufacturers and distributors, experts say.
By leveraging these trade agreements, they can potentially reduce logistics costs and minimise import duties when exporting to Zambia, translating to increased profitability for Zimbabwean businesses operating within the Comesa and Sadc frameworks, experts say.
