Zimbabwe’s national trade development and promotion body, ZimTrade, has announced its ambition to secure deals worth $20 million at the 2023 Intra-African Trade Fair (IATF), which is set to take place in Cairo, Egypt from November 9th to 15th, 2023.
The IATF, now in its third year, is designed to complement the objectives of the African Continental Free Trade Area (AfCFTA) by promoting increased trade among African countries.
ZimTrade is looking to capitalize on opportunities while strengthening its presence in markets where it has already made inroads. Zimbabwe’s exports to African markets amounted to $3.1 billion last year.
Danai Majaha, the Communications Manager at ZimTrade, expressed the organization’s ambitious goals for the event: “As ZimTrade, we are targeting at least $20 million worth of deals that will be concluded during the fair. We believe that this fair is going to strengthen Zimbabwe’s footprint across the continent.”
Majaha also highlighted the success of the previous African Intra-African Trade Fair held in South Africa, where deals worth $15 million were sealed.
The IATF provides Zimbabwean companies with a unique opportunity to extend their presence and connect with buyers from 54 African countries.
Furthermore, ZimTrade is focusing on promoting the participation of women-led and youth-led enterprises and rural-based businesses, in alignment with the government’s devolution agenda and the goal of improving the livelihoods of Zimbabweans.
Mr. Majaha explained, “We have assured that companies attending will come from all the provinces of Zimbabwe, mainly targeting women-led and youth-led enterprises. We are also targeting rural-based businesses with the objective of integrating previously marginalized communities and groups into mainstream exports.”
Promoting innovation, facilitating collaboration between Small and Medium Enterprises (SMEs) and larger enterprises, and reducing the cost of doing business are key aspects of Zimbabwe’s strategy to enhance its export capabilities.
In addition, eliminating middlemen in trade between African economies is expected to reduce costs and have a positive economic impact not only on the continent but also in Zimbabwe.
The 2023 Intra-African Trade Fair is anticipated to play a pivotal role in strengthening trade ties and advancing economic growth and development across Africa.
This story has been adopted from The Herald-Zimbabwe.