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Home in Southern Africa

Zimbabwe Targets Chinese Market to Diversify Export Portfolio

by SAT Reporter
November 18, 2024
in in Southern Africa, Markets, Zimbabwe
0
Zimbabwe Targets Chinese Market to Diversify Export Portfolio

Similo Nkala, ZimTrade’s Director of Operations

Zimbabwe is intensifying efforts to expand its export portfolio to China, reflecting the deepening trade ties between the two nations, according to a senior official at ZimTrade, the country’s trade promotion agency.

Similo Nkala, ZimTrade’s director of operations, announced the strategy on Friday, highlighting a shift in Zimbabwe’s traditional export focus on European and British markets towards new opportunities in Asia.

“Historically, our horticulture exports have been predominantly aimed at markets in the European Union and Britain. However, we are now looking to diversify, placing greater emphasis on reaching markets in the Middle East and Asia, particularly China, Malaysia, and Indonesia,” Nkala said.

The 2022 citrus export deal between Zimbabwe and China marked a turning point in bilateral trade relations, granting Zimbabwean farmers access to the Chinese market for fresh citrus fruits. This was recently bolstered by the signing of a trade protocol for avocado exports, opening yet another avenue for Zimbabwean exporters. Nkala further disclosed that discussions are ongoing for additional trade protocols covering blueberries, sesame, and chilies.

Bilateral trade between the two countries has surged, with figures from the Chinese Embassy in Zimbabwe revealing a 25.6 percent increase in trade during the first nine months of 2024. Total trade reached 3 billion U.S. dollars, with Zimbabwe exporting goods worth 2.1 billion dollars and importing 951 million dollars, leading to a trade surplus of approximately 1 billion dollars.

Zimbabwe’s agricultural sector stands to benefit significantly from these growing trade relations, with Nkala emphasising the nation’s competitive advantages due to its fertile land, favourable climate, and optimal soil conditions. He noted that there is considerable potential to expand Zimbabwe’s horticultural exports, particularly fruits and vegetables, to China.

In addition to horticulture, Zimbabwean leather producers have made substantial inroads in China. At the 2024 China International Import Expo (CIIE), local leather companies secured numerous orders, especially for high-demand leather products. The event, the world’s first national-level exposition dedicated to imports, attracted more than 3,500 exhibitors from 129 countries and regions. Of particular note, a record 297 Fortune 500 companies attended the six-day event in Shanghai, showcasing a wide array of new products, technologies, and services.

Nkala remarked, “I have seen firsthand during trade fairs in China that our leather products are in high demand.”

Furthermore, the arts and crafts sector is another area where Zimbabwe has potential to grow its export presence. Nkala revealed that Zimbabwean artists participating in the CIIE generated over 500,000 dollars in business, pointing to the untapped opportunities in this field.

“The potential is there, especially in arts and crafts, and it remains largely untapped,” Nkala concluded.

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Tags: agricultural exportsarts and craftsavocadobilateral tradeChinaChina International Import Expocitruseconomic growthexportshorticultureInternational Tradeleather productstrade protocolTrade RelationsZimbabweZimTrade
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