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AT least 33 South African companies will participate in the Zimbabwe International Trade Fair next month as a commitment to cement business relationships between the two countries.

In a speech read on his behalf during the 6th Investment and Trade Initiative conference, the Deputy Minister in the Department of Trade and Industry in South Africa, Mzwandile Masina, said Zimbabwe and South Africa have got business relations, which must be strengthened through joint-ventures partnerships.

“Ladies and gentlemen, it’s in this vein that we return to Harare, Zimbabwe’s leading financial, commercial, and communications hub. South Africa remains committed to partnering with Zimbabwe in the realisation of our joint economic aspirations.

“This commitment has been translated into tangible initiatives over the years as evidenced by the five previous investment and trade initiatives undertaken,” he said.

He added that a further attestation of South Africa’s commitment can be displayed in our ongoing participation in the Zimbabwe international Trade Fair attended by 23 South African exhibitors last year.

“We return this year with a business delegation comprising of 33 companies representing diverse sectors including Agro-processing, Mining, Health Care, Infrastructure and ICT among others.

About 75 percent of the ZITF exhibition space has been taken up with the event running from April 26 to April 30.

“We need to utilise our resources as African countries to stimulate growth of our countries because they’ll be utilised by other continents that are capitalising us.

“The African continent loses over 40 percent of its competitiveness because of the absence of or poor and inefficient infrastructure,” he said.

Officially opening the event, Industry and Commerce Deputy Minister Chiratidzo Mabuwa said there should be a balance in trade relations between Zimbabwe and South Africa for them to be beneficial to both countries.

“The trade balance is skewed in favour of South Africa for example in 2014 Zimbabwe exported $2,051,498,612 to South Africa and imported $2.7 million worth of goods from South African resulting in a trade deficit.

“You’ll agree with me that there’s need to balance our trade flows and we can achieve this by seeking South African investment in Zimbabwe’s productive sector,” she said.

In his remarks during the same event South African Ambassador to Zimbabwe Vusi Mavimbela said South Africa’s president will visit Zimbabwe to assess progress on business partnerships, which the two countries signed some time ago.

“President Jacob Zuma will visit Zimbabwe before the end of this year to access developments on business partnerships we have signed, so these projects must be taken seriously,” he said. — BH24