Mphoko expected to present global pitch in Russia

THE 21st St Petersburg International Economic Forum starting in Russia tomorrow presents a huge opportunity for Zimbabwe to establish vital economic linkages that will boost industrialisation.

Industry and Commerce Minister Dr Mike Bimha told journalists yesterday that the economic forum was an opportunity for the country to grow its industries through engagement with large corporates and small and medium scale enterprises (SMEs).

Dr Bimha is part of the delegation headed by Vice President Phelekezela Mphoko, which will attend the three-day forum.

"We have a programme within the purview of Sadc, which is industrialisation through value addition and beneficiation and we also want to build linkages between corporates and SMEs," said Dr Bimha.

He said the forum therefore presented an opportunity for Zimbabwe to engage its counterparts and find ways or areas where it can work together to further the interests of Zim-Asset.

Dr Bimha said areas of interest included agro processing, steel processing and glass manufacturing in line with the country's economic blueprint.

"Our economic blueprint, Zim-Asset feeds into the industrialisation strategy and roadmap of Sadc which in turn also feeds into the tripartite free trade area within Comesa and the continental free trade area of the African Union.

"We have a number of areas that we wish to find possibilities of co-operation. These areas include agro processing, steel processing, glass manufacturing and other such sectors that should benefit from value addition and beneficiation," said Dr Bimha.

He said as part of its efforts to retool and re-equip its industries, Zimbabwe will also establish linkages between its private sector and private sectors from other countries.

"We're looking at retooling and re-equipping our industries through lines of credit or direct linkages between companies that manufacture industrial equipment and machinery.

"The areas of cooperation are quite vast and we will take advantage of our interaction during the forum to hold side meetings with delegates to explore areas of co-operation," said Minister Bimha.

The forum, Dr Bimha said, was an opportunity to prepare for another meeting planned for July where Zimbabwe will participate and again engage global economic partners.

Possible areas expected to be discussed during the forum, which is running under the theme 'Achieving new balance in the global economic arena', include international integration and industrialisation, mining, commerce, agriculture and health.

VP Mphoko is expected to present a global pitch for Zimbabwe's investment opportunities in his keynote address.