Zimpapers Logo

Brighton Gumbo, Business Reporter
A Mozambican business delegation has pledged to sign business deals worth $500,000 with local companies in different sectors of the economy.

The delegation from the neighbouring country participated in the recent inward buyer mission that was organised by ZimTrade.

The export promotion agency said the delegation, which was made up of representatives from 12 companies in Mozambique, expressed satisfaction with the quality of Zimbabwean manufactured products.The buyers visited factories in Harare, Kwekwe and Bulawayo to better understand production processes as well as appreciate the quality of the products.

“The buyers expressed interest in fast moving consumer goods as well as horticultural seeds, herbicides, fertilisers, engineering equipment, professional services and building materials. Business worth over $500,000 is expected to be generated,” said ZimTrade.

Last year trade between Zimbabwe and Mozambique clocked $725 million compared to $570 million in 2013. Zimbabwe exported products like tobacco, cement and tea.

The country’s exports to Mozambique increased to $577 million last year from $369 million in 2013.

Imports from Mozambique declined to $148 million last year from $200 million in 2013.

According to ZimStat, Mozambique is Zimbabwe’s second largest regional trading partner absorbing 18 percent of the country’s exports for the first 10 months of 2015.

Mozambique is among the top 10 fastest growing economies in sub-Saharan Africa with average annual real GDP, a major measure of economic activity in a country, growth of eight percent. In 2014 Mozambique had a population of 26 million with a GDP of $16 billion.

ZimTrade identified products for supply to the Mozambican market, which include electrical goods and accessories, machinery, engineering, trailers, iron and steel products, cement, protective and corporate clothing, non-alcoholic beverages, fruits, vegetables, dairy products, boilers, twine and ropes, conveyor belts, doors and window frames.

Head of the Mozambican Investment Promotion Centre, Leornado Junior, urged Zimbabwean companies to tap into opportunities in various sectors in his country such as agriculture, agro-processing, mining, building and construction, logistics and tourism.

Zimbabwe and Mozambique are both members of the Southern African Development Community (SADC) and qualifying products enjoy duty-free entry into both countries.

The two countries have an operational bilateral trade agreement, which also gives duty free concessions to qualifying products. Companies are urged to fully utilise these trade arrangements.