Zim not happy with Trade facilitation agreement

Published: 16 January 2014

Zimbabwe is not likely to benefit from the agreement on trade facilitation reached at the 9th Ministerial Conference of the World Trade Organisation last year, Industry and Commerce Minister Mike Bimha said.

Speaking at a press conference today, Minister Bhima said the agreement was more in favour of developed countries who want to sell their products to African countries while disadvantaging Zimbabwe and other African countries.

"Although the Trade Facilitation Agreement will bring benefits, Zimbabwe will not gain much because the country is a net importer. This implies that there will be facilitation of more imports relative to exports and has the effect of negatively affecting our trade balance and balance of payment position," he said.

He said the deal would however benefit some developing countries who are still behind in terms of improving their customs facilities and processes because they will be provided with technical assistance.

"The issue of trade facilitation is focusing on improvements on customs procedures; make trade easier, faster and cheaper; provide clarity , efficiency and transparency; reduce bureaucracy and corruption and use technological advances.

"Part of the deal involves assistance for developing and least developed countries to update their infrastructure, train customs officials, or for any other costs associated with implementing the agreement," Minister Bimha said.

He said the agreements made at the conference would be presented to the General Council for adoption although the substance was not likely to change.
- bh24