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NewsDay

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ZITF comes alive

News
The Zimbabwe International Trade Fair (ZITF) which kicks off in Bulawayo today has exposed the high levels of de-industrialisation in the city as two big firms Merlin and Dunlop will not be taking part. Both firms have traditionaly exhibited at the annual show, but viability problems have kept them away from the 53rd annual exhibition […]

The Zimbabwe International Trade Fair (ZITF) which kicks off in Bulawayo today has exposed the high levels of de-industrialisation in the city as two big firms Merlin and Dunlop will not be taking part.

Both firms have traditionaly exhibited at the annual show, but viability problems have kept them away from the 53rd annual exhibition to be officially opened by Zambian President Michael Sata on Friday.

This years event is being held under the theme, Investing Locally, Reaping Globally.

Exhibitors are, however, upbeat about the trade exhibition as they expect to seal major deals that could turn around their business fortunes.

Yesterday, International exhibitors from China, Indonesia, Mozambique, Malawi, South Africa and Zambia were putting final touches to their respective stands.

China is set to overtake South Africa as the biggest foreign exhibitor at the exhibition as 35 companies from the Asian country have taken up 500 square metres of space.

The Chinese are taking the fair seriously and they have organised an investment seminar with locals to identify viable investment projects.

Economic Planning and Investment Promotion secretary Desire Sibanda said the seminar is pencilled for April 26.

China is one of the major sources of foreign direct investment (FDI) for Zimbabwe and has one of the fastest growing economies. It is one of the Brics countries which Zimbabwe is targeting, to help boost its economic growth through increased inflows of FDI, which would enable projects in the MTP (Medium-Term Plan) to be implemented. At least 170 Chinese businesspeople visiting the country this week will be part of the participants at ZITF.

The delegation is seeking to identify viable investment projects in Zimbabwe as well as establishing strategic partnerships with their Zimbabwean counterparts, Sibanda said in a statement.

The South African contingent, which would make the second largest foreign exhibitor, is expected to be led by its Trade and Industry deputy minister Elizabeth Thabethe.