THE recent mission by Tanzanian buyers in Zimbabwe is expected to generate export business worth $1,5 million in the next six months and there is a huge potential for more business, an official has said.
BY MTHANDAZO NYONI
Trade promotion body ZimTrade recently hosted an eight-member Tanzanian business delegation, which sought to make orders from local companies.
The buyers were drawn from pharmaceuticals, agricultural implements and inputs sector companies.
ZimTrade’s public relations officer, Dillon Kamutenga, told NewsDay that the recent mission by Tanzanian buyers was expected to generate export business worth about $1,5 million in the next six months and there is a huge potential for continued business.
According to Trade Map, total trade between Tanzania and Zimbabwe grew by an average of 18 percent, from $7,95 million in 2012 to $12,86m in 2015.
In 2012, Tanzania’s imports from Zimbabwe were $2,9 million, while its exports to Zimbabwe were $5,02m. By 2015 the figures had improved with Tanzanian imports from Zimbabwe reaching $5,7m, while recording $6,3m as exports to Zimbabwe.
Kamutenga said their participation in Zambia’s trade shows in the last two years has directly contributed to export receipts worth over $2 million.
He revealed that since 2012, ZimTrade conducted market surveys in South Sudan, Angola, Zambia, Mozambique, Namibia and, more recently, Tanzania and the DRC.
“The objective was to identify export opportunities for Zimbabwean companies and to recommend appropriate market entry strategies,” he said.
“Opportunities were identified in sectors such as agricultural implements and inputs, pharmaceuticals, processed foods, protective clothing, building and construction and engineering services as well as mining supplies.”
Following the surveys, Kamutenga said ZimTrade organised trade promotional activities such as buyer/seller missions, B2B meetings, as well as facilitated companies to participate in relevant trade fairs. Furthermore, capacity building programmes were conducted to assist Zimbabwean companies to explore these markets.
However, he noted that Zimbabwean companies faced challenges in penetrating these markets.
“Our products continue to be uncompetitive in both the domestic and international markets, due to, among other things, the cumbersome regulatory and administrative processes, the high costs of production and logistics issues, among others,” he said.