The Sunday Mail
Enacy Mapakame in Bulawayo
local companies continue to participate at the Zimbabwe International Trade Fair (ZITF) showing their resilience despite the Western-imposed illegal sanctions, a cabinet minister has said.
Industry and Commerce Minister Mike Bimha said while the decline in local participation showed the biting economic hardships, the presence of the companies showed resilience in Zimbabwean businesses.
This, he said, proved willingness in local businesses to stay afloat and show the world Zimbabwe is still an active economy.
“There has been a decline in Zimbabwean companies participating at this year’s trade fair because of financial constraints being experienced by both private and public sectors,” he said.
“Despite the economic challenges local industry face, companies are willing to participate and the quality of exhibitions has improved which is commendable,” he said.
Minister Mike Bimha said 611 exhibitors participated at the 56th edition of ZITF this year compared to 654 last year.
He said 388 were direct exhibitors while 223 were indirect exhibitors.
Minister Bimha said local exhibitors had reduced to 53 percent compared to 57 percent recorded last year.
“Exhibitors from the host city, Bulawayo, fell to 33 percent from 35 percent recorded the prior year. Of the available space, 45 583 square metres were taken up which represents 91 percent of the total space for sale,” said the minister speaking to journalists at the ZITF in Bulawayo.
However, the number of foreign countries this year firmed to 31, from last year’s 27 countries. The biggest international exhibitors were Mozambique and South Africa, which is Zimbabwe’s biggest trade partner.
Minister Bimha said China’s participation this year was however subdued, compared to previous years.
He said this was a deliberate move to cut on quantity, while focusing on the quality of exhibitions.
“Last year we had a huge representation of China but the quality was not in line with a premier international fair.
‘‘It’s better to have small number of exhibitors but with good quality,” he said adding that the ZITF dates also clashed with another fair in China.
Going forward, Minister Bimha expressed optimism in the growth of local industry; a situation he said would see the return of struggling local companies back to the fair.
Stands for companies like New Zimsteel, formerly Zisco Steel, Bata, Dunlop and many others were deserted after failing to make it to the show.
But Minister Bimha said there were a number of different Government interventions being put in place to resuscitate industry.
“There are many interventions right now in the pipeline meant to resuscitate local industries and enhance capacity.”
“The re-branding of the National Incomes and Pricing Commission to National Competitiveness Commission is one of the measures Government is adopting to improve competitiveness of local companies and well as cost and ease of doing business,” said the minister Bimha.
Without giving details, he said the Reserve Bank of Zimbabwe would soon introduce facilities to revive local companies and subsequently boost the economy.
Industry capacity utilisation is currently at 36 percent, according to the Confederation of Zimbabwean Industries (CZI) 2014 manufacturing sector survey report. Reports say this may further decline to around 30 percent.
Meanwhile foreign exhibitors who spoke to The Sunday Mail expressed satisfaction at the ZITF adding there is room for strengthening trade relations with Zimbabwe and boost the economy.
Traditional exhibitors such as China, Germany, the USA, Kenya, India, Pakistan, Ethiopia, Indonesia, Germany, Zambia, Botswana, Poland, Malawi, Iran, Mozambique, Namibia and South Africa were present.
The return of Japan and Switzerland to the fair coupled with Cyprus’ maiden exhibition also indicates trust in the country.
An official at the Japanese Embassy stand said they were optimistic of a turnaround of Zimbabwe’s fortunes given the availability of vast natural resources which put the country at an advantaged position.
“We are optimistic about the Zimbabwean economy’s growth and we expect more Japanese companies to invest in the country,” he said and added that there were opportunities were available in mining, agriculture and the ICT sectors. We have profiles of Japanese companies and our culture into Zimbabwe for trade opportunities available here,” he said.
A designer Mrs Villie Beatrice Chibonga from Malawi, who brought in different wares for sale, said while the Zimbabwean economy may be under pressure, the existence of operating companies is a sign of an economy that is still active.
“We are happy to establish links with Zimbabwe, the economy is still active and we have already recorded brisk business here at the ZITF and many orders.
‘‘We strongly believe Zimbabwe has a future,” said Mrs Chibonga
