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Turkey, Zim sign trade agreement

Business
THE Confederation of Zimbabwe Industries (CZI) has signed a collaboration agreement with a Turkish industrial association aimed at boosting trade and business linkages between the two associations, an official has said.

THE Confederation of Zimbabwe Industries (CZI) has signed a collaboration agreement with a Turkish industrial association aimed at boosting trade and business linkages between the two associations, an official has said.

BY MTHANDAZO NYONI

czii

Speaking at a round table economic briefing organised by CZI in Bulawayo on Wednesday, CZI president Busisa Moyo said the agreement allow local companies to do business with Turkey with minimal hurdles.

“We got a collaboration agreement with a Turkish industrial association as CZI. We signed that two months ago and they are ready to do business with us. So those interested in doing business with Turkey can do so. Let’s take advantage of that,” Moyo said.

Moyo said the agreement would help companies in the textile industry to boost their businesses through exports and accessing raw materials from Turkey.

National Blanket general manager Freedom Dube who was present at the meeting expressed interest in the agreement.

Cciting a study that was done by some of CZI members, Moyo meanwhile, revealed that about 45% of the maize consumed in Zimbabwe was genetically modified (GMO) despite government’s anti-GMO policy.

Last month, Agriculture minister Joseph Made told Parliament that the government had not changed its policy on GMOs but would allow the importation of GMO maize for milling.

However, Moyo said that was not fair for government to allow some players in other sectors to import GMOs, while barring others from doing so.

He said the country was polarised politically and that was not good for economic growth as economic issues have been relegated with leaders tussling over political superiority.

“The biggest challenge we have right now is a polarised environment, the political environment, in particular, that’s affecting business at a time when the situation is precarious,” Moyo said.

Captains of industry who were present at the meeting called for the speedy operationalisation of the National Competitiveness Commission, the establishment of special economic zones and fine tuning of the new labour regulations.

They suggested adoption of internal devaluation approach to tame costs of production and setting up an acceptable minimum wage.

They also discussed strategies to curb imports and reverse the trade deficit, currently estimated at $3,3 billion annually.