EDITORIAL COMMENT: ZITF to set the tone for economic recovery

THE 56th edition of the Zimbabwe International Trade Fair opens in Bulawayo today amid expectations that the trade showcase will set the stage for the country’s economic revival. Running under the theme “Stimulating Trade, Seizing Opportunities to Accelerate Growth”, the annual gathering of Zimbabwe’s captains of industry and commerce promises to be bigger and better this year as evidenced by the number of both local and foreign exhibitors.

We expect deals to be clinched during the three business days from today until Thursday when the fair will be officially opened by Zambian President Edgar Lungu. The trade fair comes as President Robert Mugabe has assumed the chairmanship of both Sadc and the African Union and the country should therefore seize the initiative and leverage on its growing influence in the region and the continent by seeking new markets for its products in Africa and beyond.

Zimbabwe is also engaged in ongoing discussions with the European Union regarding its sanctions regime and gradually some of the bloc’s members are warming up to the country and normalising trade ties. This includes the United Kingdom, Belgium and Denmark which have sent high level business delegations to Harare to explore opportunities.

More than 400 direct exhibitors and 17 countries are participating in this year’s exhibition. ZITF general manager Nomathemba Ndlovu said foreign participation in this year’s exhibition is high with 32 organisations having confirmed participation as of last week.

Cyprus is participating in the Scholastica, an educational expo, through its University of Nicosia.

Other countries include Botswana, China, India, Indonesia, Iran, Kenya, Malawi Mozambique, Namibia, Pakistan, Poland and South Africa.

Ndlovu said the exhibitors had taken up 46,018 square metres, which represents 91 percent of the space available for sale. In terms of local participation 55 percent of exhibitors are coming from Harare compared to 57 percent last year while Bulawayo inched two percent higher to 37 percent participation from 35 percent last year.

The remaining cities and towns across the country account for only eight percent.

The trade fair is running concurrently with the sector specific expos that include the A’sambeni Africa Business and Tourism Expo, Pakprint, Scholastica and Ultim8 Home.

Exports are at the heart of revamping the country’s economy through increased markets for domestic industries hence the focus on trade partnerships.

Captains of industry across the sectors of the economy have high hopes this year’s trade fair will increase their visibility and trading stake on the global market.

The United States, the European and Asian blocs have shown keen interest in trading with Zimbabwe evidenced by the participation of new comers –Germany, Japan and Cyprus after years of sour relations. The stage is therefore set for a week of frenetic activity at the Bulawayo Showgrounds and we are hopeful that the city will host a flawless event.

Besides offering businesses with opportunities to clinch deals, the trade fair is also a shop window for the country to market itself to foreign suitors. This is the opportunity for Zimbabwe to show the rest of the world that its economic blueprint – the Zimbabwe Agenda for Sustainable Socio-Economic Transformation – is a gem that when fully implemented will catapult the country to greatness.

The fair also comes as some industries in Bulawayo have shown signs of revival with companies such United Refineries and Archer Clothing on the path to full capacity utilisation. This is positive news and the executives of these firms would do well to share with their colleagues the secrets of their success.

We expect discussions during the International Business conference, which will be held during the trade fair, to centre around the need to harness the country’s natural resources and add value to them in beneficiation processes. Away from the trade fair itself, we enjoin the residents of Bulawayo to be worthy hosts and ensure that the showcase runs smoothly without incident.

Businesses in the hospitality and entertainment sectors will record brisk business this week and we call on them to look after the interests of their clients. We also urge the police and other law enforcement agents to be vigilant and maintain a heavy presence around the city so that malcontents are not allowed to have their way. ZITF 2015 should lay the platform for the country’s economic transformation.

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