Zim focuses on service sector export growth

The National Trade Development and Promotion Organisation of Zimbabwe, ZimTrade, has set its sights firmly on growing the country’s exports in the services sector.

According to a recent statement, the trade organisation is specifically targeting growth in the research, engineering, architecture, ICT and logistics sectors.

“Zimbabwe’s service sector contribution to exports is currently negligible, especially compared to countries such as Singapore where services totalled over US$161 billion in 2017, approximately half of the country’s GDP,” a ZimTrade spokesperson said.

A stakeholder workshop identified access to foreign currency, a lack of collaboration between competing firms to win tenders or share knowledge, and a standards shortfall within local businesses as major impediments to growth in the sector

During the workshop ZimTrade committed to working more closely with individual companies in the services sector, advising government on a coherent strategy for promotion and engaging diaspora networks for information, expertise and contacts.

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