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Acting Indian Ambassador to Zimbabwe Rakshpaul Malhotra at a ZimTrade seminar at a Bulawayo hotel yesterday

Oliver Kazunga Senior Business Reporter
INDIA is committed to assisting Zimbabwe in improving its exports through capacity building and human resource development, an official said yesterday. Due to the economic challenges prevailing in the economy, Zimbabwe’s exports have remained subdued.

Between January and November last year, the country’s trade imbalance stood at $3 billion as the economy continued its overreliance on imports. During the period under review, imports stood at $5.8 billion while exports amounted to $2.8 billion.

“We’re aware that Zimbabwe is having adverse balance of trade and when it comes to India for example, in 2014 the total bilateral trade with India was around $133 million and it was basically skewed in favour of India as the amount of trade from Zimbabwe was almost negligible,” Acting Indian Ambassador to Zimbabwe Rakshpaul Malhotra told Business Chronicle on the sidelines of the on-going executive development programme on international trade, which ends in Bulawayo on Friday.

“Two years ago, at a Joint Trade Committee Meeting between Zimbabwe and India it was decided not only to expand the scope of trade but to address this imbalance of trade.”

He said the executive development programme on international trade has the mandate of Indian government to conduct it in African countries.

“I hope this programme will help Zimbabwe promote its trade. The programme today is being conducted by the Indian Institute of Foreign Trade (IIFT) under the mandate of the Indian government.

“The programme has been conducted in 28 African countries and Zimbabwe is the only country having it for the second time and this shows the commitment that India has on Zimbabwe trade,” he said.

Officially opening the business event, ZimTrade board member Busisa Moyo lauded the IIFT for responding to their plea to conduct the training for companies in the region.

“I would like to thank the Indian Embassy who responded positively to our plea for the IIFT to conduct this training for companies in this region. This is indeed laudable,” he said, challenging Bulawayo companies to take part in other ZimTrade-organised activities lined up for 2015.

He said ZimTrade was aware of the challenges faced by industry and would continue to encourage the relevant authorities for the removal of the impediments to enhance the export sector competitiveness.

Speaking at the same occasion, ZimTrade chief executive officer Sithembile Pilime urged local companies not only to view the training programme from the nature of the companies’ business focus, “but also from the view point of what can be done at the national level and, in this particular instance, Bulawayo, to create new areas of business for example, the knowledge sector, employment opportunities and the much needed exports,” she said.

The training programme covers areas such as export market research, global –e-business issues, total quality management for international business and competitive strategies for international business.