THE Confederation of Zimbabwe Industries (CZI) has said preparations for its annual conference set for next month are at an advanced stage, with India and Turkey business delegations set to jet into the country to scout for investment opportunities.
BY BUSINESS REPORTER
Speaking at a media briefing yesterday in Harare, CZI president, Sifelani Jabangwe said Turkey is strategically located as a gateway to the European Union and they had has targeted the European country as a possible market in a bid to boost trade and business linkages between the two nations.
“We have two confirmed delegations from India and Turkey, who are coming in to explore investment opportunities in Zimbabwe as well as forge partnerships with local industry,” he said.
“There will be business-to-business meetings scheduled throughout the Congress.”
The conference will take place from August 2 to 4 in Victoria Falls under the theme Growing Manufacturing Competitiveness: Realities and Realignments.
Jabangwe said the private sector, particularly foreign trade, international investment and services, international construction activities and logistics will be exploring inward and outward investment opportunities, as well as increasing the export volume of Turkish business.
He said some of the areas of interest by the business delegations include construction, agro-processing and equipment, clothing; packaging, industrial oils and chemicals, automotive, aluminium and steel, milling, oil seed and electric consumer and industrial appliances.
There will be business-to-business meetings to facilitate trade and investment in these and other areas, he said.
Jabangwe said CZI has also created strong linkages with the Confederation of Indian Industry (CII), which is also bringing a business delegation of 10 companies from a wide variety of sectors looking for trade and investment opportunities.
“The trend and record of the Indian economy and the role of SMEs speaks volumes for itself,” he said.
“India has become a huge world economic player, hence, Zimbabwean business could benefit a lot by interacting with the Indian businesses not only in terms of knowledge and lessons, but India is known for innovation and technology advancement, which Zimbabwe is in need of.
“India has lots of capital equipment for large industries and SME manufacturing industries.”
Jabangwe said a number of CZI members have already confirmed their participation at the exhibitions. These exhibitions are open to both members and non-members with the aim of showcasing local products.
He said with the presence of international delegations, there are opportunities for companies to showcase their products and open up markets in Turkey and India.
“Victoria Falls, as a tourist city, provides an opportunity for foreigners to have a taste of Zimbabwean products, hence, CZI will advertise the exhibitions through local hotels. We expect traffic at the exhibition stands to be higher than in previous years,” Jabangwe said.
Last year, CZI signed a memorandum of understanding with Foreign Economic Relations Board of Turkey (DEiK) aimed at facilitating access to new and refurbished equipment at minimal cost, industrial expertise as well as increasing trade between Zimbabwe and Turkey.
DEiK is responsible for leading foreign economic relations of the Turkish.