News / Regional
ZITF opens to public
29 Apr 2016 at 06:39hrs | Views
The Zimbabwe International Trade Fair (ZITF) opens to the public today as President Mugabe and his Togolese counterpart, Faure Essozimna Gnassingbé arrive in Bulawayo. Thousands of people are expected to troop into the giant exhibition centre - joining business executives and foreign exhibitors to witness the official opening ceremony this afternoon.
The First Lady Amai Grace Mugabe is expected to accompany the President while Vice Presidents Emmerson Mnangagwa and Phelekezela Mphoko, Cabinet ministers, top Government officials and diplomats are already in the city awaiting the arrival of the top leadership.
President Gnassingbé, who arrived in Harare yesterday, will officially open the 57th edition of the ZITF this afternoon. Today's event is the pinnacle of the five-day trade deliberations that saw key economic figures, both local and international, engage in production, investment and trade talks since Tuesday.
Bulawayo, a strategic industrial hub in the country and a regional link, is host to the prestigious economic indaba that seeks to reposition the country as a favourable investment destination through strategic partnerships and market synergies between local and foreign players.
The annual event, running under the theme; "Innovate-Integrate-Industrialise" also exposes the local potential and its capacity to tap into the international market within the context of regional and global integration, which have become the buzzwords of modern economies.
Innovative industrialisation is at the heart of the SADC industrialisation roadmap and the broader African Union vision that is anchored on leveraging natural resources for improved economies.
The drive was successfully pushed by President Mugabe during his tenure as chairman of the two regional bodies between 2014 and 2015. The arrival of the two Presidents is expected to concretise on-going conversations on the re-industrialisation agenda in Bulawayo and the country as a whole while expanding markets for local firms, Confederation of Zimbabwe Industries president and United Refineries CEO, Busisa Moyo said.
"We look forward to conversations that the President has embarked on focusing on the 10-point plan of which 60 to 70 percent of it is about industrialisation, employment creation and regaining competitiveness. "With Togo coming from West Africa we look forward to expanding export market there and other investment partnership opportunities in a win-win arrangement," Moyo said.
"A return to the industrialisation and mechanisation agenda is critical. This is in line with the value-addition proposition and we are certainly upbeat about that focus as the manufacturing industry."
Moyo said a lot of positive deals were being sealed at the ZITF as the country gains momentum to rejuvenating its economy. President Gnassingbé is also expected to inspect a guard of honour ahead of the official opening speech at around 2pm. He will present prizes to outstanding exhibitors.
Meanwhile, a packed entertainment schedule has been lined up for the grand event by different groups who include the police and the military band, drum majorettes and several arts groups.
A total of 401 direct exhibitors who include 34 foreign direct exhibitors are participating in this year's showcase and have expressed excitement with the ongoing engagements and quality of exhibitions. According to the ZITF Company total bookings stand at 45 556 square metres reflecting 95,68 percent of space made available for sale.
Nineteen nations are participating, among them Botswana, China, Cyprus, Ethiopia, Germany, Indonesia, Iran, Japan, Kenya, Malawi, Mozambique, Namibia, Poland, Russia, South Africa, Tanzania and Zambia.
Economic experts have stressed the need to innovate as the cornerstone of industrialisation. Regaining market footing is critical for Zimbabwean firms who seek competitive leverage on the back of an influx of cheap imports. ZITF is also critical in projecting a positive international investment image as it allows exhibitors to view the country from a different perspective.
The trade fair ends tomorrow.
The First Lady Amai Grace Mugabe is expected to accompany the President while Vice Presidents Emmerson Mnangagwa and Phelekezela Mphoko, Cabinet ministers, top Government officials and diplomats are already in the city awaiting the arrival of the top leadership.
President Gnassingbé, who arrived in Harare yesterday, will officially open the 57th edition of the ZITF this afternoon. Today's event is the pinnacle of the five-day trade deliberations that saw key economic figures, both local and international, engage in production, investment and trade talks since Tuesday.
Bulawayo, a strategic industrial hub in the country and a regional link, is host to the prestigious economic indaba that seeks to reposition the country as a favourable investment destination through strategic partnerships and market synergies between local and foreign players.
The annual event, running under the theme; "Innovate-Integrate-Industrialise" also exposes the local potential and its capacity to tap into the international market within the context of regional and global integration, which have become the buzzwords of modern economies.
Innovative industrialisation is at the heart of the SADC industrialisation roadmap and the broader African Union vision that is anchored on leveraging natural resources for improved economies.
The drive was successfully pushed by President Mugabe during his tenure as chairman of the two regional bodies between 2014 and 2015. The arrival of the two Presidents is expected to concretise on-going conversations on the re-industrialisation agenda in Bulawayo and the country as a whole while expanding markets for local firms, Confederation of Zimbabwe Industries president and United Refineries CEO, Busisa Moyo said.
"We look forward to conversations that the President has embarked on focusing on the 10-point plan of which 60 to 70 percent of it is about industrialisation, employment creation and regaining competitiveness. "With Togo coming from West Africa we look forward to expanding export market there and other investment partnership opportunities in a win-win arrangement," Moyo said.
"A return to the industrialisation and mechanisation agenda is critical. This is in line with the value-addition proposition and we are certainly upbeat about that focus as the manufacturing industry."
Moyo said a lot of positive deals were being sealed at the ZITF as the country gains momentum to rejuvenating its economy. President Gnassingbé is also expected to inspect a guard of honour ahead of the official opening speech at around 2pm. He will present prizes to outstanding exhibitors.
Meanwhile, a packed entertainment schedule has been lined up for the grand event by different groups who include the police and the military band, drum majorettes and several arts groups.
A total of 401 direct exhibitors who include 34 foreign direct exhibitors are participating in this year's showcase and have expressed excitement with the ongoing engagements and quality of exhibitions. According to the ZITF Company total bookings stand at 45 556 square metres reflecting 95,68 percent of space made available for sale.
Nineteen nations are participating, among them Botswana, China, Cyprus, Ethiopia, Germany, Indonesia, Iran, Japan, Kenya, Malawi, Mozambique, Namibia, Poland, Russia, South Africa, Tanzania and Zambia.
Economic experts have stressed the need to innovate as the cornerstone of industrialisation. Regaining market footing is critical for Zimbabwean firms who seek competitive leverage on the back of an influx of cheap imports. ZITF is also critical in projecting a positive international investment image as it allows exhibitors to view the country from a different perspective.
The trade fair ends tomorrow.
Source - the herald
