NDAMU SANDU
Thirty-four local companies will participate at the Intra-African Trade Fair (IATF2021) as Zimbabwe is set to tap into the US$40bn trade and investment deals projected to be concluded at the fair.
The fair –which runs from November 15 to 21 at the Durban International Convention Centre, KwaZulu-Natal, South Africa—is being organised by the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the African Continental Free Trade Area secretariat.
The Zimbabwe contingent also includes small businesses, women and youth-led businesses drawn from sectors such as horticulture, processed foods, construction and engineering, agricultural inputs and implements, clothing and textile, packaging and printing, arts and crafts, and electrical.
The Zimbabwe Investment Development Agency, the Agricultural Marketing Authority and the Zimbabwe Tourism Authority will participate at IATF 2021 alongside the Confederation of Zimbabwe Industries, the Zimbabwe National Chamber of Commerce and AE Electrical, among others.
ZimTrade CEO Allan Majuru said the continent-wide trade fair is going to unlock export opportunities for Zimbabwean businesses, by linking them with some of the leading buyers across major African markets.
“These partnerships are going to make it easy for local enterprises to penetrate non-traditional markets, which will go a long way in diversifying Zimbabwe’s export markets, which are currently dominated by South Africa. From the trade fair, we should be seeing an increased visibility of Zimbabwean products across all markets on the continent,” Majuru said.
“From the list of participating companies, there is a significant number of small businesses, some of which are youth and women-led enterprises. Providing a platform to meet potential buyers will go a long way in integrating these businesses into mainstream exports and we are expecting to see an export growth as a result of their participation.”
IATF2021 is expected to attract over 10,000 attendees and 1,100 exhibitors showcasing their goods and services.
The inaugural IATF in 2018 realised US$32bn in trade deals, had 2,500 conference participants and over 1,000 exhibitors.
The second edition of IATF brings together continental and global buyers and sellers, and will enable stakeholders to share trade, investment and market information as well as trade finance and trade facilitation solutions designed to support intra-African trade and the economic integration of the continent. The fair has dedicated country days which gives countries a platform to showcase trade and investment opportunities, as well as any tourism and cultural attraction.
IATF seeks to boost intra-African trade which is at around 13% compared to approximately 60%, 40% and 30% intra-regional trade that has been achieved by Europe, North America and ASEAN respectively.
