Zimbabwe: Export Strategy Gets Nod

Source from:  The Herald (Harare) September 20, 2006 09/25/2006

CABINET has approved the National Export Strategy with the Government now working towards regularisation of its implementation. Industry and International Trade Minister Mr Obert Mpofu indicated yesterday the strategy was approved two weeks ago. "Everything is going through the normal procedures and the strategy will be implemented soon," he explained without giving the actual time frame. About a year behind its initial implementation schedule, the National Export Strategy is the product of Government and the private sector collaboration. It seeks to consolidate traditional export markets and to diversify into non-traditional markets thus harnessing more export opportunities. The initiative is another example of home-grown solutions designed to turn around the economy, which is already on the recovery path, thanks to the effective and timeous implementation of the National Economic Development Priority Programme (NEDPP). Analysts have pointed out that the National Export Strategy was key to diversifying the export base, which has not been fully exploited. It would be presented against the background of continued resurgence of exports, which experienced a massive decline over the past five years owing to politically-motivated sanctions and a fall in agricultural productivity, particularly tobacco, among other crops. But homegrown solutions masterminded by the central bank enabled the country to increase its exports. There are projections earnings will rise further up to US$4,5 billion this year underpinned by growth in the agriculture, mining, tourism, manufacturing and horticulture sectors. Implementation of the plan will, among other things, complement the export incentives which have already been instituted by the RBZ to boost foreign exchange inflows. Other issues to be addressed in the plan include marketing strategies and establishment of international trade ties with friendly countries, particularly in the Middle and Far East. Currently, the Government is actively negotiating under the umbrella of the Community of Eastern and Southern African States (Comesa) for the establishment of new trading arrangements with the European Union. A new trade agreement is expected to be operational by 2008. In addition, the country will continue to pursue its Look East policy as well as participate in the Southern Africa Development Community (Sadc) negotiations whose aim is to establish the Sadc Free Trade Area by year end. Enditem