ZITF2015 – Trade: Engine of sustainable economic growth

26 Apr, 2015 - 00:04 0 Views

The Sunday Mail

Nyasha Mandeya

As the 56th edition of the Zimbabwe International Trade Fair (ZITF) rolls into action, it is no surprise the business community is poised for improved trading opportunities and securing lucrative markets as guided by this year’s theme: “Stimulating Trade — Seizing Economic Opportunities”.

It is important to note the resonance with Zanu-PF’s 2015 theme of “Accelerating the Implementation of Zim Asset”. Zimbabwe’s economic blueprint possesses meritorious attributes in the adoption of a results-based management system and clear implementation matrix. However, the binding constraints evident in the lack of institutional financial capacity to bankroll some of the activities under ZimAsset presses upon the need for innovative financial solutions through partnerships and joint ventures with trading partners.

This point is further emphasised by the 2014 exhibition, which focused on creating business networks and innovation to achieve sustainable growth. Zanu-PF is forging an agenda to achieve economic emancipation for all Zimbabweans and it is imperatively prudent for the party to utilise such major platforms like the ZITF to ensure congruency of policy implementation with the key business stakeholders.

The approach will no doubt be geared towards achieving economic growth premised on ZimAsset targets. Zanu-PF’s 6th National People’s Congress was agitated by the slow pace of implementing ZimAsset, hence the more aggressive approach to accelerate such implementation through linkages with business.

This will ensure sufficient stimulation of economic activity complemented by an increase in effective demand to raise the level of economic activity and consequently, impact positively on GDP growth.

Subsequently, a more competitive environment-improved supply thrust will keep prices low, resulting in healthy inflation levels with a ripple effect on disposable incomes and increased savings that point to exponential upliftment of economic activity and livelihoods. The party is fully geared to support initiatives by businesses as provided for in its constitution. In Article 2;11 Zanu-PF – as one of its aims – undertakes to, “Establish and sustain a society firmly based on historical, cultural and social experience and create conditions for economic independence, prosperity and equitable distribution of the wealth of the nation in a system of economic organisation and management in which elements of free enterprise and market economy, planned economy and public ownership are combined.”

Thus the party directs policy and creates a conducive environment for stimulating trade. It is striving to attain a firm and self-supporting economy through judicious exploitation, value-addition and beneficiation of Zimbabwe’s abundant natural resources, which are mainly resident in the traditional sectors of agriculture, mining and tourism.

Zanu-PF’s position is that Zimbabwe is ripe and in dire need of this capital to unlock value embedded in its resource endowment, which is well-complemented by a huge pool of intellectual capital. It is anticipated that ZITF 2015 will play a pivotal role in opening up trade avenues between Zimbabwe and foreign exhibitors, while paving way for Foreign Direct Investment.

Thus domestic and international investors will be accorded a platform for networking and accessing opportunities to propel economic growth.

Of major interest to the party’s economic agenda are the direct and indirect capital flows from international participants who will partner in seizing economic opportunities in capital-intensive infrastructural and service delivery projects like the provision of transport, energy, water. These are key economic growth propellants. Zanu-PF will use this platform to reassure investors of its investment value proposition, which offers investors an array of opportunities across the entire economy.

The priority of Government in these sectors is on value-addition. Besides the traditional sectors, investors can explore improving institutional capacity in the areas of road construction, water reticulation, dam construction, ICT, energy infrastructure and transport.

More opportunities exist in consumer-facing industries (retail, ICT and banking), which have been some of the fastest-growing sectors. Zanu-PF’s business development arm has been mandated to promote business opportunities and the ZITF is an ideal platform to ensure all Zimbabweans have a stake in local and international businesses. The party will also share how small to medium enterprises can realise their potential through valuable trade that is competitive on a global scale. Further, the party plays a pivotal role in creating a stable macro-economic environment, competitive ease and improved cost of doing business, while ensuring peace and tranquillity.

Zanu-PF also plays an assertive role in developing policies that support the trading environment with a view to maximising attractiveness of Zimbabwean products in the region and globally. The National Trade Policy endeavours to create an environment that casts trade as the engine for sustainable economic growth and accelerates ZimAsset implementation by stimulating the productive sectors towards higher productivity, efficiency and international competitiveness. Increased trade improves balance of payments through increased exports and controlled import expenditure.

Measures to strike this balance are espoused in the Tariff Policy, non-tariff measures and trade defence mechanisms with the aim of promoting trade while protecting local industry subject to international regulations. Zanu-PF – through its indigenisation and economic unit – has been implementing entrepreneurship development programmes for youth graduates, organising youth leadership development programmes as well as developing and implementing broad-based youth empowerment programmes based on the Training for Rural Economic Empowerment (Tree) model.

In addition, it has been conducting integrated skills training, and expanding youth skills training centres., paying special attention to entrepreneurial skills development and attachment options. The 2015 expo will be a multi-sectoral trade fair, an ideal platform to seek new markets and get a snapshot of Zimbabwe’s investment potential. The ZITF is, therefore, a perfect opportunity to showcase the best Zimbabwe has got to offer as well as share ideas on how Government can support trade stimulation and accelerate the implementation of Zim Asset. Zanu PF directs political, social and economic policies, while providing a mechanism for harmony in policy formulation towards total economic independence.

Thus at its ZITF exhibition stand, Zanu-PF will interface with business and the general public to establish an awareness, clarity of its policies, programmes, and activities for developing and nurturing a symbiotic relationship with both domestic and international businesses. This maiden appearance at the ZITF is indeed a humble submission of Zanu-PF’s role in economic matters and a sure sign that it considers the economic agenda the foremost priority at this juncture of the economic revolution as it seeks to deliver economic prosperity to all Zimbabweans.

 

Nyasha Mandeya is the director of Zanu-PF’s economic affairs department

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