BULAWAYO - The Zimbabwe International Trade Fair has slashed its foreign currency denominated exhibition fees after local companies threatened to boycott the trade showcase.But last week the fees were reduced to between US$50 and US$105 a square metre following a meeting between the new Minister of Industry and Commerce, Professor Welshman Ncube and the ZITF management.
The new fee schedule also saw municipal rates that had been pegged at US$10 per square metre being reduced to US$2.
The 50th edition of the ZITF runs from April 28 to May 2.
"In appreciation of your unwavering support over the years, we feel that our Golden Jubilee is the most opportune time to reward all our exhibitors participating in this significant event in the same way," said ZITF general manager, Daniel Chigaru in a statement accompanying the new schedule.
"As well as several activities lined up to make this a memorable occasion, I am pleased to inform you that your participation in this year’s fair entitles you to a generous discount ranging between 35% to 75% off the tariff rates, proportional to space reserved."
There were mounting fears the prohibitive rates would result in a few local and international exhibitors taking part in the country’s biggest trade showcase.
This comes on the back of last year’s low key exhibition that saw most stands being taken up by government parastatals after local and foreign exhibitors stayed away.
The ZNCC had argued that most companies were still reeling from the 10-year economic collapse and the dollarisation of the economy to afford theproposed fees
thezimbabwestandard
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