Zim’s COMESA trade volumes up

Zimbabwe’s trade with the Common Market for East and Southern Africa rose to $300 million this year from $80 million in 1999.

Comesa statistics show that Zimbabwe, which has since 1982 accounted for more than 40% of the regional trading bloc market share, is still an integral member.

Trade volumes increased by an average of 10% yearly in spite of a drop in earnings between 2004 and 2008 due to hyper-inflation.

The future growth of regional trade depends on government and private sector commitment to comply with the COMESA Customs Union policy which seeks to remove trade barriers among member states.

Zimbabwe’s main exports to the 22 member regional trading group include minerals, agro-processed foods, textiles and financial services.

Priscilla Misihairabwi-Mushonga, Regional Integration Minister believes toeing the COMESA line will attract investors. But it would mean a loss in revenue for government and render local industry more vulnerable.

Post published in: Business

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