Wednesday, 11 August 2021 07:51

TAKE ADVANTAGE OF TRADE AGREEMENTS

Zimbabwean companies have been urged to take advantage of regional and continental trade agreements to market their products and pursue investment opportunities.

 

Foreign Affairs and International Trade Minister Dr Frederick Shava said this after Friday’s meeting of the Sadc Committee of Ministers of Trade and the Ministerial Taskforce on Regional and Economic Integration held virtually.

 

Zimbabwe has ratified the Common Market for East and Southern Africa-East African Community and Sadc Tripartite Agreement (TFTA).

 

 

The country has also signed and ratified the agreement establishing the Free Trade Area and the African Continental Free Trade Area (AfCFTA)

 

“This is in line with the African Union(’s) Agenda 2063 programme which also includes the programme for Accelerated Industrial Development, Programme for Infrastructure Development and Boosting Inter-Africa Trade,” he said.

 

“These agreements create opportunities for Zimbabwean companies in terms of market for products and investment opportunities.

 

“There are opportunities for value chains to service regional, continental and global market. It is also an opportunity to attract Foreign Direct Investment.”

 

Minister Shava added that Zimbabwe was implementing tariff liberalization to open up the economy and trade with other SADC member States, but had applied for relaxation to be exempted from implementing tariff reductions on a number of products due to challenges being faced by local industries.

Last modified on Wednesday, 11 August 2021 08:11
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