Zimtrade tackles trade deficit

Zimtrade tackles trade deficit
Published: 06 September 2017
Zimtrade is seeking ways of reducing a trade deficit of $1.2 billion recorded in the first seven months of this year by engaging exporters and looking for ways of boosting productivity in critical sectors of the economy.

The introduction of huge export incentives by the government has been bearing fruit with a trade deficit of $1.2 billion having been recorded in the first seven months of this year, which is less compared to $1.6 billion recorded under the same period last year.

Now Zimtrade is pursuing a cocktail of measures as a way of boosting export receipts to further narrow the trade deficit by the year end.

Zimtrade Board Chairman, Mr Lance Jena said besides narrowing to the trade deficit, the forthcoming exporters’ conference will bring together stakeholders to find ways of ironing out sticking issues regarding exports for the benefit of the nation.

Exports have in recent years been going down, owing to low productivity within the economy and the introduction of a five percent export bonus scheme by the Reserve Bank of Zimbabwe (RBZ) has pushed production upwards while at the same time increasing export revenue.

Zimtrade has been participating at various exhibitions across the continent with a view to create synergies with potential markets for horticultural, agricultural and leather products, among others.
- zbc
Tags: Zimtrade,


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