Zim could exploit Swedish market
ZIMBABWE’S export trade promotion board, ZimTrade, says it will conduct trainings to encourage exports to Sweden, as the country battles to reduce a widening trade deficit currently estimated at over US$3,5 billion.
ZimTrade says there are lucrative opportunities in Sweden, which Zimbabwean firms that are facing a shrinking market as a result of a decline in disposable incomes can capitalise on.
Trade statistics indicate that Sweden imported US$1,97 billion worth of fresh produce, US$5,56 billion of processed foods and US$4,9 billion of clothing and textiles from around the world in 2014.
But there were no exports into that market from Zimbabwe during the period, according to figures released Monday.
This presents great opportunities for local exporters.
“This presents a potential for Zimbabwean companies producing these products to explore the Swedish market,” said ZimTrade Public Relations Officer, Dillon Kamutenga.
“Companies with potential to export to Sweden are urged to utilise the Zimbabwe-EU Business Information Centre, which is housed at ZimTrade. The Centre provides up-to-date information on accessing the European Union market of which Sweden is member.”
He said next month, ZimTrade, together with the Swedish Embassy in Zimbabwe and Open Trade Gate Sweden (OTGS), will host a one day seminar on how to export to Sweden.
“The Seminar seeks to raise awareness on the rules and requirements for exporting from Zimbabwe to Sweden as well as to the European Union. Furthermore, the seminar will provide requisite market intelligence to assist Zimbabwean companies with a potential to penetrate these markets,” he said.
OTGS is a free of charge one-stop information centre that was set up by the Swedish Government as a public service to exporters from developing countries. It facilitates exports from developing countries to Sweden.
ZimTrade said based on an analysis of Swedish imports, sectors identified for possible export to Sweden by Zimbabwe are were fresh produce, processed foods, clothing and textiles, among others.
Zimbabwe says it is putting in place policies to stimulate economic growth after the trade deficit widened to US$1,83 billion from US$1,76 billion in the first half of the year.
Government was satisfied with to restore the economy after years of decline.
“I am very satisfied with the progress that we have made to restore our economy back on track,” said Finance Minister Patrick Chinamasa recently.
“Where I sit now, I am a happier person than I was last year because we are laying in place a sound policy framework on the basis of which we should see economic recovery for our country.”