Trade between Zimbabwe and Mozambique grew to $725 million, in 2014 as compared to $570 million in 2013 with Zimbabwe exporting products like tobacco, cement and tea among many other goods.
Zimbabwe’s exports to Mozambique increased to $577 million last year from $369 million in 2013. Imports from Mozambique declined to $148 million last year from $200 million in 2013.
Speaking at the trade and investment seminar for the Mozambican inward buyer mission, ZimTrade chief executive officer Sithembile Pilime yesterday said there was need to capitalise on the proximity of the two countries to increase two-way trade.
Pilime said both countries should take advantage of the Sadc Trade Protocol and the Zimbabwe/Mozambique Bilateral Trade Agreement that offer preferential market access to qualifying products.
The trade and investment seminar follows two successful outward missions hosted by ZimTrade in Tete in 2012 and 2014.
“… as a result of these two events, a number of Zimbabwean companies established linkages and started doing business with their Mozambican counterparts. Most have not looked back since then,” Pilime said.
“The objective of this mission is to build on the momentum gained from the aforementioned Tete outward missions. We urge participants to use this platform to establish new business networks that are mutually beneficial to both our countries.”
Speaking at the same event, Embassy of the Republic of Mozambique first secretary Custodio Ferreira Ossifo said the trade between Mozambique and Zimbabwe was significantly improving and expected to grow following the trade mission.
Mozambique is among the top 10 fastest growing economies in sub-Saharan Africa with average annual real GDP growth of 8%. In 2014 Mozambique had a population of 26 million with a GDP of $16 billion.
Ossifo said Mozambique was in the process of addressing some of the doing business challenges which are to do away with bureaucratic processes in acquiring licences in setting up a company in Mozambique and to date has established a one-stop business centre to facilitate licencing processes among many others.
Products identified for supply to the Mozambican market include electrical goods and accessories, machinery, engineering, trailers, iron and steel products, cement, protective and corporate clothing, non-alcoholic beverages, fruits, vegetables, dairy products, boilers, twine and ropes, conveyor belts, doors and window frames, among others.