HARARE – National trade promotion and development body, ZimTrade has implored the country’s productive sectors to produce and explore deeper into trade ties with Italy.
Italy is one of largest manufacturing economies worldwide and boasts of expertise and leading technology in diverse sectors like agricultural mechanization (encompassing horticulture, packaging, food processing and irrigation), transport infrastructure, water and specializes in traditional and renewable energy.
This country is one of the top ten agricultural produce importers in Europe and has wide-ranging imports it requires from Zimbabwe predominantly from the agriculture sector.
“Italy is the sixth largest importer of agricultural products in the European Union, making it a good target for Zimbabwean horticulture produce.
“Enquiries on the supply of cane sugar, hides, leather, nuts, wattle extracts, nickel, oranges, grapefruit, cut flowers, peas, coffee, and black tea, among others have been received through Zimbabwe’s Diplomatic Mission in Italy,” said ZimTrade in their monthly statement.
On the other hand Zimbabwe is a major beneficiary of Italy’s high-tech machinery and agriculture sector accessories as revealed by trade statistics.
“Zimbabwe’s major imports were packaging machinery, poultry-keeping machinery, carboxymethyl cellulose, bakery machinery, laboratory furnaces, fertilisers, machinery spare parts, dryers for agricultural products and generators, among others,” said the Trade promotion and development body.
Currently Zimbabwe’s trade with the Italy is based on the Interim Economic Agreement (iEPA). Under this trade agreement, Zimbabwe enjoys duty-free, quota free market access for qualifying products to Italy and other European Union Members.
Records show that the composition of Zimbabwe’s exports to Italy were granite, raw hides and skins of reptiles, leather, oranges, wet blue hides, tobacco, black fermented tea, vermiculite, wooden furniture and sculptures, among others.
Italy has a population of 59,2 million with a GDP of US$2,074.995 million and a GDP per capita of US$ 35,041 and is also well known for its high quality mining equipment, which presents a great opportunity for potential bilateral cooperation with Zimbabwe.