The Ministry of Industry and Commerce is set to launch a new trade policy to improve exploitation of Zimbabwe’s raw materials and increase revenue generation through trade.
Norman Chakanetsa, director of research and domestic trade in the ministry, told a stakeholders’ meeting in the city last week that Cabinet had already approved the policy.
He described the policy as an engine for sustainable growth and development.
“Our ministry is going throughout the country for the purposes of meeting stakeholders so that we give them feedback on the new trade policy, on which we consulted with them last year,” he said.
“The new trade policy will be the blueprint on trade and we expect it to give more value to our raw materials before being exported.
“The local demand of raw materials is still low because of a number of reasons and the country is exporting most of its raw material for less value.
“We expect 10 % increase on value on all raw materials annually before export starting from next year up to 2016.
“This will provide revenue for the welfare of our economy,” said Chakanetsa.
He added that the policy will be launched together with the industrial development trade policy.
Chakanetsa said it was mandatory to review the current trade policy because the country was losing out significant revenue due to outdated policies.