Zim develops national tariff policy
TENDAI BHEBE IN BULAWAYO
The government is developing a national trade tariffs policy in a bid to create a competitive and productive sector in the domestic and international market.
Addressing stakeholders at the National Trade Tariffs Conference at the Zimbabwe International Trade Fair yesterday, the minister of State for Bulawayo Provincial Affairs and Devolution Judith Ncube said the government was working towards building a new Zimbabwe with a “thriving, open economy”.
She said the government was also promoting export-led growth industrialisation and value addition, and “capable of creating opportunities for both local and foreign investors and creating employment for our populace”.The conference is running under the theme, Unpacking Zimbabwe’s Trade Agreements and benefits that can accrue to Local Industry.
The conference is being hosted by the Competition Tariff Commission of Zimbabwe.
She said the policy aims to build fully integrated value chains.
“Government, through the Competition and Tariff Commission, is developing a National Trade Tariffs Policy. The policy aims to build fully integrated value chains, and a competitive and productive industrial sector,” Ncube said.
She said trade is crucial in economic development of a country and there was a need to understand the agreed trade rules which helps in utilising them to Zimbabwe’s advantage.
Zimbabwe is a signatory to several trade agreements at regional and multilateral levels. These include agreements under the Southern African Development Community, the Common Market for Eastern and Southern Africa, European Union-Eastern and Southern African Economic Partnership Agreements, United Kingdom-Eastern and Southern African Economic Partnership Agreements, the World Trade Organisation and the African Continental Free Trade Area.
Ncube urged the private sector to join hands with government institutions as a way of creating relations and expanding their businesses.
The Zimbabwe National Statistics Agency data shows the value of exports increased in April to US$587.3m from US$557.6m in the previous month with South Africa remaining as the major trading partner.
