AT least five regulatory authorities have started implementing some of the reforms recommended under the rapid results initiative (RRI) for the ease of doing export business.
BY TARISAI MANDIZHA
A ZimTrade monthly report said the government and regulatory authorities have confirmed that they have started implementing some of the reforms.
“While some of the recommendations are still going through the administrative and legislative processes, it is encouraging to note that some government ministries and regulatory authorities have now confirmed that they have started implementing some of the reforms,” the report read.
The reforms that relevant authorities have agreed to implement are on reducing the waiting period for export permits to a maximum of two days, the removal of the $50 registration fee for exporters and importers with effect from June 12, 2017 suspension of outstanding debts on the Standard Development Fund (SDF), to financially strained companies, on a case by case basis.
The Zimbabwe Revenue Authority (Zimra) are to reduce the waiting period for bill of entry cancellation to a maximum of seven days and reduce the time for companies to register under trade agreements to a maximum of seven days for applications that do not involve inspection of the manufacturing process.
The Reserve Bank of Zimbabwe is looking at reducing the cost of forms CD1 and CD3 from $10 to $2,50 for prepayments and $5 for payments received within 90 days, while it has introduced online application for form CD1 through the computerised export payments exchange control system (Cepecs).
Furthermore, the Medicines Control Authority of Zimbabwe (MCAZ) has reduced the processing time of export permits to a maximum of two days and the Forestry Commission of Zimbabwe has decentralised the issuance of both timber movement and export permits and also currently there are 22 statutory instruments waiting to be amended.
“Going forward, given the pace at which we are moving in implementing the recommended reforms in the face of a continuing decline in our exports and the reality that we have reached the end of this initiative, ZimTrade advocates for adopting the business facilitation law.
“We believe such a law will assist in the implementation of solutions that will address all trade impeding regulations and procedures, while the various legal instruments are going through the natural legislative processes,” ZimTrade said.
However, to ensure continuity of the work that the thematic working groups have started, ZimTrade said the doing export business implementation taskforce (Debit) has been constituted, to meet regularly to monitor implementation of those reforms that have not been completed.